Related Party Transaction

Various Eateries Plc (AIM:VARE) confirms that on 14 July 2025, its wholly owned subsidiary, VEL Property Holdings Limited entered into an agreement to reissue its Deep Discounted Bond with Friends Provident International Limited ("FPI") ("New Deep Discounted Bond").

The principal purpose for issuing the New Deep Discounted Bond is to extend the redemption date from 14 July 2025 to 14 July 2026. The New Deep Discounted Bond has a subscription amount of £3,390,324 and the nominal value is £3,661,550 including accrued interest. All other terms of the New Deep Discounted Bond remain unchanged including the annual interest rate of 8%. The New Deep Discounted Bond is secured against the Company's freehold property in Cobham.

Related Party Transaction

FPI operates on an execution only basis on the sole instruction of Hugh Osmond, a director and substantial shareholder of the Company so accordingly the issue of the New Deep Discounted Bond is deemed to be a related party transaction pursuant to AIM Rule 13 of the AIM Rule for Companies. The Company's directors (excluding Hugh Osmond and Tiffany Sword, who are indirectly interested in this transaction) consider, having consulted with Various Eateries' Nominated Adviser, Zeus Capital Limited, that the terms of the New Deep Discounted Bond are fair and reasonable insofar as the shareholders of the Company are concerned.

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.