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Angling Direct PLC (ANG)

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Friday 09 November, 2018

Angling Direct PLC

Result of General Meeting

RNS Number : 9333G
Angling Direct PLC
09 November 2018
 

9 November 2018

 

 

Angling Direct plc

 

("Angling Direct" or the "Company")

 

Result of General Meeting

Angling Direct plc (AIM: ANG.L), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to announce that, at its General Meeting held at 11.00 a.m. today, all resolutions set out in the Circular dated 24 October 2018 were duly passed. Application has been made for 21,622,000 new ordinary shares of 1 pence each in the capital of the Company ("New Ordinary Shares") to be admitted to trading on AIM. It is expected that Admission and dealings in the 21,622,000 New Ordinary Shares will commence at 08:00 a.m. on 12 November 2018.

Following Admission, the Company's issued ordinary share capital will consist of 64,621,993 Ordinary Shares; no shares are held in treasury. The above figure of 64,621,993 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the voting rights of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Angling Direct's Chief Executive Officer, Darren Bailey, commented:  

"We have made significant progress since our IPO last year, including opening nine new stores in the UK over 15 months, upgrading our warehouse facilities, enhancing our e-commerce offering and commencing the rollout of native language sites. The proceeds from today's placing will enable Angling Direct to take the business to the next level, as we seek to extensively increase our UK footprint and expand into Europe through our successful online business.

"We would like to thank both new and existing investors for their strong support for the Placing, in which the Company secured £20 million. Angling Direct is now well positioned to accelerate its growth strategy and, ultimately, deliver greater value to shareholders."

For further information:

 

 

Angling Direct PLC

 

+44 (0) 1603 258658

 

Martyn Page, Executive Chairman


 

Darren Bailey, Chief Executive Officer


 

 

Cenkos Securities - NOMAD and Broker

 

 

 

Stephen Keys (Corporate Finance)

Russell Kerr (Sales)

+44 (0) 207 3978926



 

 

Yellow Jersey PR - Financial PR


 

Charles Goodwin

+44 (0) 7747 788 221

 

Harriet Jackson

Katie Bairsto

+44 (0) 7544 275 882

 

Notes for editors

 

About Angling Direct plc

 

Angling Direct is the largest specialist fishing tackle retailer in the UK. The Company sells fishing tackle products and related equipment through its network of retail stores, located throughout the UK, as well as through its own website (www.anglingdirect.co.uk) and other third-party websites.

 

The Company currently sells over 21,500 fishing tackle products, including capital items, consumables, luggage and clothing. The Company also owns and sells fishing tackle products under its own brand 'Advanta', which was formally launched in March 2016.

 

From 1986 to 2003 the Company's Founders acquired interests in a number of small independent fishing tackle shops in Norfolk and, in 2003, they acquired a significant premises in Norwich, which was branded Angling Direct. Since 2003, the Company has continued to acquire or open new stores, taking the total number up to 24 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's shares are traded on the AIM market of the London Stock Exchange under the ticker symbol ANG.L.

 

For further information, please visit www.anglingdirect.co.uk

 


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