Notice of General Meeting
Summary by AI BETAClose X
26 October 2026
Angling Direct PLC
(‘Angling Direct’, the ‘Company’ or the ‘Group’)
Notice of General Meeting
Renewal of authority to make market purchases of the Company’s own shares
Angling Direct PLC (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, announces that it has today published and distributed to shareholders a circular incorporating a notice of general meeting of the Company's shareholders (the "Circular"), and a related form of proxy. Capitalised terms used in this announcement have the meaning given in the Circular unless the context requires otherwise or as otherwise defined herein. Copies of the documents will shortly be available on the Company's website at: www.anglingdirect.co.uk/corporate/investors/regulatory-news.
The General Meeting will be held at Angling Direct’s registered office address at 2D Wendover Road, Rackheath Industrial Estate, Norwich, Norfolk, NR13 6LH on Monday, 16 November 2026 at 10:00 a.m., at which a special resolution will be proposed to renew the Board's authority to make market purchases of the Company's own shares. The Circular sets out the background to and reasons for the proposed resolution and includes the formal notice convening the General Meeting.
At the Company's Annual General Meeting on 18 June 2026 (the "2026 AGM"), Shareholders granted authority for the Company to make market purchases of up to 7,254,430 Ordinary Shares, representing 10% of the Company's issued share capital (excluding Ordinary Shares held in treasury) at that time (the "2026 AGM Buyback Authority"). Since the 2026 AGM and up to 23 October 2026, being the latest practicable date prior to this announcement, the Company has repurchased 6,378,000 Ordinary Shares pursuant to that authority, representing approximately 87.9% of the 2026 AGM Buyback Authority. As a result, the Directors expect that the 2026 AGM Buyback Authority will, in all likelihood, be exhausted in advance of the Company's next annual general meeting, expected to be held in June 2027 (the "2027 AGM").
The Company has, since starting to buy back its own shares in December 2024, deployed £5.2 million of its cash reserves on share buybacks, purchasing 11,371,000 of its own shares at an average price of 45.80 pence per Ordinary Share. £2.7 million has been deployed on the purchase of own shares within the parameters of the Share Buyback Programme announced by the Company on 9 December 2024 and subsequently extended on 10 December 2025. A further £2.5 million has been deployed outside the parameters of the Share Buyback Programme. The Directors believe that share buybacks remain an effective mechanism for returning surplus capital to Shareholders and delivering long‑term shareholder value and are therefore seeking, subject to Shareholder approval, an immediate renewal of this authority.
Accordingly, a special resolution will be proposed to seek a renewed authority for the Company to make market purchases of up to 6,616,630 Ordinary Shares, representing approximately 10% of the Company's issued share capital (excluding Ordinary Shares held in treasury). The new authority, which will replace the 2026 AGM Buyback Authority, will expire at the conclusion of the 2027 AGM unless exhausted or further renewed prior to such time.
Expected Timetable
Latest time and date for receipt of the Form of Proxy |
10.00 a.m. on 12 November 2026 |
General Meeting |
10.00 a.m. on 16 November 2026 |
Angling Direct PLC |
+44 (0) 1603 258 658 |
Steven Crowe, Chief Executive Officer Sam Copeman, Chief Financial Officer
|
|
Singer Capital Markets – NOMAD and Broker |
+44 (0) 20 7496 3000 |
Peter Steel James Todd Anastassiya Eley
|
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FTI Consulting - Financial PR |
+44 (0) 20 3727 1000 |
Matthew Young |
About Angling Direct
Angling Direct is the leading omni-channel specialist fishing tackle retailer in the UK, with an established and growing presence in Europe. Headquartered in Norfolk UK, the Company sells fishing tackle products and related equipment through its network of approximately 60 UK retail stores, as well as through its leading digital platform (www.anglingdirect.co.uk) and the MyAD Fishing Club app. The Company has three further native language websites in its key European territories (www.anglingdirect.de, .fr, .nl), with orders fulfilled by its international distribution centre in The Netherlands.
Angling Direct’s purpose is to inspire everyone to get out and enjoy an exceptional fishing experience, regardless of background or ability, in the great outdoors. Angling Direct’s active digital channels and over 500 colleagues contribute to the Company’s ethos of care for the wider community and the environment (www.anglingdirect.co.uk/sustainability). Angling Direct currently sells over 25,000 fishing tackle products from industry leading brands alongside its own brands 'Advanta', and entry level offering 'Discover'.
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