26 February 2025

Angling Direct plc

("Angling Direct" or the "Company" or the "Group")

Value Creation Awards under new LTIP

Grant of Awards and PDMR Dealings

Angling Direct plc (AIM: ANG), the leading omni-channel specialist fishing tackle and equipment retailer, today announces the grant of Value Creation Awards (together the "Awards" and each an "Award") under the new Angling Direct plc Long Term Incentive Plan (the "LTIP").

Since the appointment of Steve Crowe as an Executive Director in January 2020, Angling Direct has delivered significant profitable growth, with revenues having progressed from £53.2m in FY20 to an expected £91.3m in FY25, as announced in the Company's trading update issued earlier today. This represents a compound annual growth rate of 11.4%.  Sam Copeman has also contributed to this growth since joining as an Executive Director in July 2023, with revenue up 11.9% to FY25E.

Given the growth in the Group's revenue and profits, the Remuneration Committee believes an evolution of the Company's existing remuneration arrangements is appropriate to ensure the continued incentivisation, retention and motivation of the Executive team, in line with the Company's medium-term objectives published in May 2024.

Key terms of the Awards

Size of Awards

The Awards are one-off nominal cost options awards over ordinary shares of 1 pence in the Company ("Ordinary Shares") as follows:

·    An Award over 1,500,000 Ordinary Shares to Steve Crowe, Chief Executive Officer; and

·    An Award over 1,000,000 Ordinary Shares to Sam Copeman, Chief Financial Officer.

Performance Criteria

The Awards are subject to the following performance criteria:

The terms  of the Awards, which were consulted on with certain of the Company's major shareholders, reward management for the Company's robust performance in FY25, whilst they do not time vest until at least summer 2028.

The underlying distinct Parts of the Awards will ordinarily time vest and become exercisable on their associated Vesting Date subject to the grantee's continued employment within the Company's Group through to such associated Vesting Date and to the extent to which the applicable performance conditions are met.

The rules of the new LTIP have been developed with regard to latest best practice expectations, including malus and clawback provisions and market standard good and bad leaver provisions.

The Awards will augment the Group's existing senior executive share incentive plan. Further details of the existing senior executive share incentive plan and Value Creation Awards under the new LTIP will be set out in the Company's annual report & accounts.

The Awards represent 3.3% of the Company's current issued share capital with voting rights. Total Ordinary Shares under option (including the Awards) represent 4.0% of the Company's current issued share capital with voting rights.

Further information on the Awards can be found in the PDMR tables at the foot of this announcement.

Andy Torrance, Angling Direct Chair said:

"On behalf of the Board, I am delighted to be issuing these Value Creation Awards under the new LTIP. The Awards set robust targets for the executive team, which would see value created for all shareholders, as Steve and Sam continue to execute on the Company's medium-term objectives. The Awards also recognise the strong growth in the business achieved since Steve joined Angling Direct in January 2020 and Sam's contribution since he joined in June 2023 and I look forward to continue working closely with both in the future."

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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 50 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 its 450 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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