Angling Direct PLC Executes 60,000 Share Buyback at 48p Each as Part of Ongoing Capital Management Plan

Angling Direct’s Omni-Channel Fishing Tackle Retail Model

Angling Direct PLC stands as the foremost omni-channel specialist fishing tackle retailer in the UK, combining physical retail, e-commerce, and digital community engagement. The company operates about 60 UK stores, offering customers expert in-store service and immediate product access. Complementing this is a robust digital platform at www.anglingdirect.co.uk, which serves as a key sales channel with nationwide reach beyond physical locations.

The company’s European expansion includes native-language websites in Germany (www.anglingdirect.de), France (www.anglingdirect.fr), and the Netherlands (www.anglingdirect.nl). Supporting this footprint is an international distribution centre in the Netherlands, facilitating efficient order fulfilment across Europe. Additionally, Angling Direct engages customers through the MyAD Fishing Club app, enhancing community interaction and customer loyalty. This diversified channel strategy ensures operational resilience by balancing traditional and digital retail avenues.

Comprehensive Product Range and Proprietary Brand Strategy

Offering over 25,000 fishing tackle products, Angling Direct combines top-tier third-party brands with its own proprietary lines. The company’s own-brand portfolio features two tiers: 'Advanta' as the premium range and 'Discover' targeting entry-level anglers. This tiered approach caters to a broad spectrum of customers, from novices to seasoned fishing enthusiasts.

The extensive product assortment reflects the complexity of the fishing tackle market and diverse customer needs. By blending established brands with proprietary products, Angling Direct optimises margins via own-brand sales while maintaining credibility through recognised manufacturers. This strategy strengthens its competitive position in UK specialist fishing retail and supports customer acquisition across physical and digital channels.

Share Buyback Details and Market Pricing Consistency

On 24 July 2026, Angling Direct executed a share buyback acquiring 60,000 ordinary shares at a uniform price of 48 pence per share. The transaction occurred in a single block at 14:03:28 on the AIMX trading venue, facilitated by Singer Capital Markets, the company’s NOMAD and broker. The highest, lowest, and volume-weighted average prices were all 48.0 pence, indicating a single transaction rather than multiple trades throughout the day.

The repurchased shares will be held in treasury, granting the company future capital management flexibility. Treasury shares may be reissued, cancelled, or used strategically without requiring additional shareholder approval. This buyback aligns with the extended programme confirmed on 10 December 2025, reflecting disciplined capital allocation and board-approved execution parameters.

Effect on Voting Rights and Shareholder Disclosure Thresholds

Following the 24 July 2026 buyback, Angling Direct’s capital structure shows 77,267,304 ordinary shares issued, with 4,983,000 held in treasury. Consequently, voting rights now apply to 72,284,304 shares, which is the figure used for shareholder notification obligations under FCA Disclosure Guidance and Transparency Rules.

This distinction is crucial for investors monitoring their holdings, as notification thresholds depend on voting shares rather than total issued capital. The announcement’s detailed disclosure supports shareholder compliance with regulatory reporting requirements. Accumulating treasury shares through successive buybacks gradually alters the voting rights denominator, influencing shareholder voting power.

Context of Extended Share Buyback Programme and Capital Strategy

The 60,000-share repurchase is part of an extended buyback programme formally confirmed on 10 December 2025. This ongoing initiative indicates the board’s commitment to a sustained capital return strategy, reflecting confidence in the company’s cash flow and strategic outlook. The programme enables management to return surplus capital to shareholders while continuing to invest in core operations and growth.

Share buybacks serve multiple strategic roles, including tax-efficient capital returns, capital structure optimisation, employee incentive support via treasury shares, and mitigating share price volatility. The continued execution of this programme demonstrates stable financial positioning and management’s confidence in future prospects.

Norfolk-Based Omni-Channel Retailer with UK and European Reach

Headquartered in Norfolk, UK, Angling Direct employs over 500 staff across its approximately 60 retail stores, digital platforms, and support operations. This workforce supports both customer-facing retail and backend e-commerce, logistics, and service functions across multiple markets.

Its European expansion, with native-language digital platforms and centralised Netherlands distribution, diversifies market exposure beyond the UK. This mitigates risks associated with UK retail challenges and positions the company to capture fishing equipment demand across continental Europe. The omni-channel model integrates physical stores, national e-commerce, European digital storefronts, and mobile app engagement to maximise customer reach.

Commitment to Sustainability and Community Engagement

Angling Direct’s corporate mission is to inspire everyone to enjoy exceptional fishing experiences regardless of background or ability. This ethos extends to community involvement and environmental responsibility, detailed at www.anglingdirect.co.uk/sustainability. Emphasising accessibility and environmental stewardship, the company aligns with broader societal values beyond commercial objectives.

The company’s active digital presence and sizeable workforce foster a culture of care for community and environment. This positioning appeals to customers influenced by corporate social responsibility, especially within leisure and outdoor sectors. Environmental commitment is particularly relevant given fishing’s direct connection to natural ecosystems. Publicly articulating sustainability efforts differentiates Angling Direct and supports loyalty among values-driven consumers.

Regulatory Compliance and Detailed Transaction Disclosure

The announcement complies with Article 5(1)(b) of Regulation (EU) No 596/2014 (Market Abuse Regulation), retained in UK law via the European Union (Withdrawal) Act 2018. This mandates detailed disclosure of share transactions, including volume, price, timing, and venue. Angling Direct’s transparency enables effective market and regulatory monitoring of its buyback activity.

Disclosure details—highest, lowest, and volume-weighted average price at 48.0p, transaction time at 14:03:28, and venue AIMX—confirm the buyback was executed at prevailing market rates without price manipulation. The single block purchase reflects orderly market conduct and shareholder-friendly execution within the authorised programme.

Governance and Regulatory Framework Overseeing the Buyback

The buyback programme operates under a formal governance framework requiring board approval and shareholder consent. Confirmed on 10 December 2025, the programme adheres to regulatory standards and is executed through regulated intermediaries. Singer Capital Markets, acting as NOMAD and broker, ensures professional oversight and compliance with FCA conduct rules.

This structured approach guarantees that buybacks are conducted transparently and lawfully, reinforcing Angling Direct’s status as a compliant listed entity managing capital returns through established channels rather than ad hoc transactions.