Fishing Republic Regulatory News (FISH)

27 June 2016

AIM: FISH

Fishing Republic plc

("Fishing Republic" or the "Company")

£3.75 million Placing to Support Expansion

Fishing Republic, the fishing tackle retailer, is pleased to announce that it has raised £3,750,000 (gross) through a placing of 10,714,288 new ordinary shares of 1p each ("Ordinary Shares") at a price of 35p per placing share (the "Placing Shares") to new and existing shareholders (the "Placing"). The net proceeds of the Placing will be used to support Fishing Republic's continuing expansion as it seeks to build a significant market presence in the highly fragmented fishing tackle sector. In particular, the new funds will be used to develop Fishing Republic's online platform and digital strategy, and to support further store openings, including potential acquisitions.

The Placing, which was heavily oversubscribed, was undertaken by the Company's broker Northland Capital Partners and the placing price of 35p represents an 8.7% discount to the Company's 30 day volume weighted average price prior to 23 June 2016.

Amongst the new shareholders participating in the Placing, Fishing Republic is pleased to announce that Bill Currie, Iain McDonald and Sir Terry Leahy have agreed to subscribe for, in aggregate, 6,014,286 Placing Shares in the Company, which will equate to a combined shareholding of 15.9% of the Company's issued share capital immediately following the admission of the Placing Shares to trading on AIM ("Admission"). Following Admission, these shares will be held by Tilney Nominees.

In addition, James Newman, the Company's Chairman, has subscribed for 28,571 Placing Shares. Following Admission, James will hold 161,906 Ordinary Shares in Fishing Republic, which will account for 0.43% of the Company's issued share capital as enlarged by the Placing.

Details of the Placing and Total Voting Rights

The Placing Shares will rank pari passu with the existing ordinary shares and application has been made to the London Stock Exchange for Admission. The Placing is conditional, inter alia, on Admission, and dealings are expected to commence at 8.00am on 29 June 2016.

As a result of the issue of the Placing Shares, the percentage holding of significant shareholders will change. The revised holdings of these shareholders, along with the new shareholders, following Admission are presented in the table below:

(i) Excludes Shares held by Zoe Gross.(ii) Zoe Gross is Stephen Gross' wife.

Following Admission, the Company's issued share capital will consist of 37,826,788 Ordinary Shares with each share carrying the right to one vote. There are no Ordinary Shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that, immediately following Admission, the total number of voting rights in the Company will be 37,826,788.

James Newman, Chairman of Fishing Republic, said:

"I am delighted to announce our successful share placing to raise £3.75 million gross. The placing, which was heavily oversubscribed, was well supported by existing investors and we are also pleased to welcome a number of new shareholders. These include Bill Currie, Iain McDonald and Sir Terry Leahy.

This placing is a significant step forward in Fishing Republic's ongoing development and we remain very excited about the growth opportunities ahead.''

Steve Gross, Chief Executive of Fishing Republic, said:

"We will be using the net proceeds of the Placing to implement our growth strategy. In particular, we will be focusing on developing our online and digital capability, whilst continuing to expand our store network. Our long term goal is to consolidate the fishing tackle marketplace and build a significant market presence and we remain very positive about the opportunity for us to do so."

Enquiries:

About Fishing Republic plc

www.fishingrepublic.net

Fishing Republic is one of the largest fishing tackle retailers in the UK by floor space in one of the UK's largest participation sports. Established in 1985, the Company caters for all types of anglers: coarse, carp, game and sea fishing. It operates a chain of 'destination' retail outlets predominantly in the North of England and has an online presence through both third party online retailers and its own websites (www.fishingrepublic.net and www.yorkshiregameangling.co.uk). Its comprehensive product offering includes own-brand ranges, such as Klobba and Theseus.