REG - Angling Direct PLC - Result of AGM, Trading Update and Board Changes

Angling DirectAnnouncement

22/06/2023 12:00

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RNS Number : 6140D  Angling Direct PLC  22 June 2023

22 June 2023

 

Angling Direct plc

("Angling Direct", the "Company" or the "Group")

 

Result of AGM, Trading Update and Confirmation of Board Changes

 

Result of AGM and Trading Update

 

Angling Direct plc (AIM: ANG), announces that at the Company's Annual General
Meeting ("AGM") held earlier today, all resolutions were unanimously passed.

 

The results of voting will shortly be available on the Group's website.

 

Trading over the first few months of the new financial year has been in line
with the Board's expectations and we continue to maintain a robust net cash
position.

 

Confirmation of Board Changes

 

The Company also confirms that following the conclusion of the AGM, the Board
changes announced on 28 February 2023 and 16 May 2023 took effect today:

 

·    Andy Torrance has stepped down from his role as Chief Executive
Officer ("CEO") and moves to Non-executive Chairman;

·    Steve Crowe, Angling Direct's current Chief Financial Officer
("CFO"), replaces Andy as CEO;

·    Sam Copeman joins the Board as CFO; and

·    Martyn Page has stepped down as Non-executive Chairman and becomes a
Non-executive Director.

 

As announced on 16 May 2023, Sam is an experienced CFO and most recently led
the trade sale of Esportif, the global sports consultancy with a presence in
the UK, France, South Africa, Japan, Australia and New Zealand, to Wasserman,
the global sports, music, and entertainment agency. Prior to this, Sam held
senior finance roles across a variety of industries within private equity and
privately owned businesses and has a track record of creating shareholder
value through the development and execution of ambitious strategic plans,
delivering growth and leading successful shareholder exits.

 

Regulatory disclosures in relation to the appointment of Sam Copeman to the
Board of the Company as required under Schedule 2(g) of the AIM Rules for
Companies can be found at the foot of this announcement.

 

For further information please contact:

 

 Angling Direct plc                         via FTI Consulting
 Steven Crowe, Chief Executive Officer

 Singer Capital Markets - NOMAD and Broker  +44 (0) 20 7496 3000
 Peter Steel

 Alex Bond

 Tom Salvesen

 James Fischer

 FTI Consulting - Financial PR              +44 (0) 20 3727 1000
 Alex Beagley                               anglingdirect@fticonsulting.com (mailto:anglingdirect@fticonsulting.com)

 Sam Macpherson

 Alice Newlyn

 

About Angling Direct

 

Angling Direct is the leading omni-channel specialist fishing tackle retailer
in the UK. The Company sells fishing tackle products and related equipment
through its network of retail stores, located strategically throughout the UK
as well as through its leading digital platform (www.anglingdirect.co.uk
(https://www.anglingdirect.co.uk/) .de, .fr, .nl and .eu) and other
third-party websites.

 

Angling Direct is committed to supporting its active customer base and
widening access to the angling community through its passionate colleagues,
store-based qualified coaches, social media reach and ADTV YouTube
(https://www.youtube.com/channel/UCOenrSpp_3DpdT14EBrPkWA) channel. The
Company currently sells over 28,000 fishing tackle products, including capital
items, consumables, luggage and clothing. Angling Direct also owns and sells
fishing tackle products under its own brand 'Advanta', which was formally
launched in March 2016.

 

From 1986 to 2002, the Company's founders acquired interests in a number of
small independent fishing tackle shops in Norfolk and, in 2002, they acquired
a significant premise in Norwich, which was branded Angling Direct. Since
2002, the Company has continued to acquire or open new stores, taking the
total number up to 46 retail stores. In 2015, the Company opened a 2,800 sq.
metres central distribution centre in Rackheath, Norfolk, where the Company's
head office is also located. In January 2022 Angling Direct acquired an
additional 3,900 sq. metres distribution centre in Venlo, Netherlands to
service its established, and rapidly growing, presence in Europe with native
language websites set up in key regions to address demand.

 

Regulatory Disclosures

 

The following information regarding the appointment of Sam Copeman, aged 44,
is disclosed under Schedule 2(g) of the AIM Rules for Companies:

 Current Directorships  Previous Directorships (within the last five years)
 None                   3sun Academy Ltd

                        3sun Denmark ApS

                        3sun Group Limited

                        3sun Inspection Services Ltd

                        3sun Ltd

                        3sun Subsea Ltd

                        Access Inspection Development Ltd

                        Dawson Energy Ltd

                        RRC Controls Services Ltd

                        Twentytwo Football Ventures Holdings Limited

                        Twentytwo Football Ventures Limited

 

As at the date of this announcement, Sam Copeman does not hold any ordinary
shares in the Company.

Save as set out above there are no further disclosures pursuant to Rule 17 or
Schedule Two paragraph (g) of the AIM Rules for Companies in respect of the
appointment of Sam Copeman.

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