Issue of Options
CEO Mark Loughborough granted 4m options with exercise prices between 17.32p and 20.96p, vesting over three years.
- Options granted to CEO 4,000,000
- Exercise price range 17.32p to 20.96p
- Vesting period 3 years in equal tranches
Select text to share a quote on X · sign in to keep highlights & notes in your COPC notes
Further to the Appointment of CEO and Board changes announcement dated 13 January 2025, Various Eateries confirms that it has now issued 4,000,000 options over ordinary shares of 1p each in the Company ("Ordinary Shares") to Mark Loughborough, the newly appointed CEO and an Executive Director of the Company (the "New Options"). The New Options have been issued as part of Mark's standard remuneration package with the Company.
The New Options are granted under the rules of the Company's CSOP Share Scheme. The New Options have an exercise price of range from 17.32 pence to 20.96 pence and vest in three equal tranches over three years with the first vesting date being the first anniversary of the date of grant. The New Options remain, however, conditional on the continued employment of the recipient at the date of exercise.
Mark Loughborough holds no other options over ordinary shares in the Company.
The Group operates two core brands across 20 locations:
Noci, a modern pasta-led concept which serves very high-quality dishes at reasonable prices.
For more information visit www.variouseateries.co.uk.
| 1 | Details of the person discharging managerial responsibilities | |||||
| a) | Name | Mark Loughborough | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| a) | Name | Various Eateries plc | ||||
| b) | LEI | 213800SWZ6W3RNE32B76 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1 pence each GB00BM9BZK23 | ||||
| b) | Nature of the transaction | Issue of Options | ||||
| c) | Price(s) and volume(s) |
.05 pence 20.96 pence 1,333,334 1,333,333 1,333,333 | ||||
| d) | Aggregated information - Aggregated volume - Price | 4,000,000 19.11 pence | ||||
| e) | Date of the transaction | 20 February 2025 | ||||
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.