Angling Direct PLC Board Changes (1474Y)
May 11 2021 - 1:00AM
UK Regulatory
TIDMANG
RNS Number : 1474Y
Angling Direct PLC
11 May 2021
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."
For further information please contact:
Angling Direct plc +44 (0) 1603 258658
Andy Torrance, Chief Executive
Officer
Steven Crowe, Chief Financial Officer
N+1 Singer - NOMAD and Broker +44 (0) 20 7496 3000
Peter Steel, Alex Bond (Corporate
Finance)
Tom Salvesen (Corporate Broking)
FTI Consulting - Financial PR +44 (0) 20 3727 1000
Alex Beagley anglingdirect@fticonsulting.com
James Styles
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
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.
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