Angling Direct Regulatory News (ANG)

11 May 2021

Angling Direct plc

("Angling Direct" or the "Company")

Board Changes

Angling Direct plc (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, announces that Martyn Page, currently Executive Chairman, intends to seek re-appointment to the Board in the role of Non-Executive Chairman at the Company's 2021 Annual General Meeting ("AGM"). Furthermore, Darren Bailey, Non-Executive Director of the Company, has also informed the Board that he will not stand for re-election at the Company's AGM. Accordingly, Darren will step down from the Board at the conclusion of the AGM.

Martyn is both a co-founder and major shareholder of the Company. Martyn founded the Angling Direct brand in 1997 following the acquisition of Norwich Angling Centre. Darren has been with Angling Direct for over 20 years and, in 2019, moved from his role as Chief Executive Officer of the Company to Non-Executive Director. Together, they led the Company at the time of its IPO on AIM in 2017 and have since been integral to its development as a public company.

Following these changes, the Executive Board will comprise Andy Torrance (CEO) and Steven Crowe (CFO). The Non-Executive Board will comprise Martyn Page (Non-Executive Chairman), Paul Davies (independent Non-Executive Director) and Dilys Maltby (independent Non-Executive Director).

As a result of these changes, the Board intends to appoint an additional independent Non-Executive Director and will update shareholders on progress as and when appropriate.

Andy Torrance, Chief Executive Officer, commented:

"On behalf of the Board, I would like to thank Darren for his outstanding dedication and service to our Company which he helped build over more than 20 years and wish him all the best in his future endeavours. We also look forward to working with Martyn in his new role as Non-Executive Chairman."

Martyn Page commented:

"The Company is in a very strong position with a highly capable executive team at its helm and the time is now right for me to make the move to Non-Executive Chairman. I look forward to continuing my work with the team in my new role. I would also like to offer my heartfelt thanks to Darren for all he has done for the business."

Darren Bailey commented:

"Angling Direct's prospects and potential are as strong as they have ever been and I look forward to following its progress as the Company evolves. I wish Andy and Martyn and the rest of the team all the very best for the future."

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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 and .nl) 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 20,000 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 38 retail stores. In 2015, the Company opened a 30,000 sq. ft central distribution centre in Rackheath, Norfolk, where the Company's head office is also located. Angling Direct has an established, and rapidly growing, presence in Europe with native language websites set up in key regions to address demand.