TIDMANG
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
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 .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 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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END
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