TIDMVARE
RNS Number : 3765P
Various Eateries PLC
09 February 2023
VARIOUS EATERIES PLC
("Various Eateries" or "the Company"
and with its subsidiaries "the Group")
Appointment of Chief Financial Officer
Board Changes
Various Eateries PLC, the owner, developer and operator of all
day club, restaurant and hotel sites in the United Kingdom , is
pleased to announce that it will appoint Sharon Badelek to the
Board of the Company as Chief Financial Officer ("CFO"), with
effect from 1 April 2023.
In a career spanning more than 30 years, Sharon has held
financial leadership positions at several high-profile leisure and
hospitality businesses, including most recently the position of CFO
of RedCat Pub Company ("RedCat"), an investment vehicle established
in January 2021 to acquire freehold pubs. At RedCat, Sharon was
instrumental in acquiring 110 pubs in a 12-month period.
Earlier in her career, Sharon was UK Finance Director and later
Group Finance Director at Vue Entertainment. As part of the
original executive team, Sharon played a leading role in several
major acquisitions, with the rollout leading to an increase in
EBITDA from GBP31 million to GBP110 million. After nine years at
the business, Sharon was influential in selling the business for
GBP950 million.
Sharon has also fulfilled the roles of CFO of Inspired Villages
Group, a retirement village developer and operator; CFO and later
CEO of Novus Leisure Limited, a London pub and nightclub operator;
CFO of Westpoint Veterinary Group; Financial Controller and later
Group Financial Controller at Holmes Place Health Clubs and Group
Chief Accountant at Carlton Communications Plc. Sharon has been
ACCA qualified since 1996.
Sharon will replace James Darwent, who has acted as CFO on an
interim basis since 11 November 2022, and is an executive director
of the Board. James will continue in his position as Interim CFO
but will step down from the role, and as a director of the Company
with effect from 1 April 2023.
Andy Bassadone, Executive Chairman of Various Eateries,
said:
"Sharon has an impressive track record in scaling
customer-centric businesses in our industry and I have no doubt the
knowledge and experience she has built over several decades of good
and bad markets will be of great benefit to Various Eateries as we
pursue our growth ambitions. Sharon was the outstanding candidate
for the role, and I am delighted to welcome her to the team.
"At the same time, I would like to thank James Darwent for the
important role he has played at the Company over the past few
months. He slotted in seamlessly at a crucial time for the business
and, on behalf of the Board and everyone at Various Eateries, I
wish him all the best."
Sharon Badelek, incoming CFO, said:
"With strong brands that resonate with the modern consumer, a
highly experienced senior team and a clear strategy for expansion,
Various Eateries has an exciting opportunity to grow into a leading
name in UK hospitality. I look forward to working closely with
Andy, Hugh and Yishay to help the Company fulfil its potential and
create value for all stakeholders."
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies.
Sharon Michelle Badelek, aged 53, holds, or has during the last
five years held, the following directorships and partnerships:
Current Directorships/Partnerships
Marley Consulting Services Limited
Past Directorships/Partnerships (in the last 5 years)
A3D2 Limited Pie & Pint Pub Company
Austin Heath Management Ltd RedCat Debt Company Limited
Bramshott Place Management Limited RedCat Inns Limited
Cozy Pubs Limiteed RedCat Leased Pubs Limited
Durrants Management Limited RedCat PropCo Limited
Gifford Lea Management Ltd RedCat Pub Company Limited
Great Alne Park Management Limited RedCat Pub Company Services Limited
Inspired Villages Group RedCat Pub Hotels Limited
Inspired Villages Group Limited RedCat Pub Hotels Warwick Limited
J. and J. Smith (Hotels) Limited RedCat Retail Pubs Limited
Little Britain Pub Company Ltd. RedCat SubCo Limited
Millbrook Village Management RedCat Taverns Limited
Limited
Novus Leisure Group Renaissance Villages Limited
Novus Leisure Limited The Bull Inn - Barton Mills Ltd
Pastures Leisure Limited The Coaching Inn Group Ltd
Pie & Pint Inns (The Castle) The Manor Hotel (Dorset) Limited
Limited
Pie & Pint Inns (The Cherry Zoo Bar Limited
Tree) Limited
Pie & Pint Inns Limited
Sharon Badelek does not hold any ordinary shares in Various
Eateries PLC however, as part of her remuneration package, Sharon
will be granted options over ordinary shares ("Options"). The
precise number of options can only be calculated at the date of
grant when the option exercise price is able to be calculated. The
exercise price of the Options will be the average mid-market share
price for the 5 dealing days prior to grant ("Exercise Price"). The
number of options to be granted will be calculated by dividing
GBP180,000 by the Exercise Price and, once granted, the Options
will vest over a three-year period.
The Company will provide further details on the Options once
they have been granted to Sharon upon her official appointment.
There is no further information to be disclosed pursuant to
paragraph (g) of Schedule 2 of the AIM Rules.
Enquiries
Various Eateries
plc
Andy Bassadone Executive Chairman Via Alma PR
Yishay Malkov Chief Executive Officer
Interim Chief Financial
James Darwent Officer
Broker and Nominated
WH Ireland Limited Adviser Tel: +44 (0)20 7220 1666
Broking
Harry Ansell
Nominated Adviser
Katy Mitchell / Megan
Liddell
Alma PR Financial PR Tel: +44 (0)20 3405 0205
David Ison variouseateries@almapr.co.uk
Pippa Crabtree
About Various Eateries
Various Eateries owns, develops and operates restaurant,
clubhouse and hotel sites in the United Kingdom. The Group's stated
mission is "great people delivering unique experiences through
continuous innovation".
The Group is led by a highly experienced senior team including
Andy Bassadone (Executive Chairman), Hugh Osmond (Founder), Yishay
Malkov (CEO) and Matt Fanthorpe (Chef Director, a non-board
position).
The Group operates three core brands across 15 locations:
* Coppa Club, a multi-use, all day concept that
combines restaurant, terrace, café, lounge, bar
and work spaces
* Tavolino, a restaurant aiming to address a gap in the
market for high-quality Italian food at mid-market
prices
* Noci, a modern, neighbourhood pasta-only concept
which serves very high-quality dishes at reasonable
prices
For more information, visit www.variouseateries.co.uk
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END
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