Leathes Prior advise Angling Direct plc on £5.5 million fund raise
Paul Warman and Nina Ryan of Leathes Prior’s Corporate Team have assisted Angling Direct plc in raising up to £5.5 million through a placing of new shares on the alternative investment market of the London Stock Exchange.
Paul Warman and Nina Ryan of Leathes Prior’s Corporate Team have assisted Angling Direct plc, the UK’s largest specialist fishing tackle and equipment retailer, in raising up to £5.5 million through a placing of new shares on the alternative investment market of the London Stock Exchange. The placing was announced on 11 June 2020, with admission of the shares proposed to take place in two tranches over the next few weeks.
The funds raised will provide further protection, if required, against the uncertainty created by Covid-19. Given the high level of customer demand anticipated over the coming weeks, with the happy coincidence of 15 June 2020 marking the re-opening, not only of the coarse fishing season on rivers, but also of all 36 retail stores owned by Angling Direct nationwide, funds will also be used in part to increase high-demand product volumes. Any surplus will be utilised in the company’s growth strategy.
Angling Direct now has 36 stores in the UK and has expanded its online operations into the European market, launching local language websites in Germany, France and the Netherlands. The company continued to operate successfully online throughout the lockdown, helped by the fact that fishing was one of the first sporting activities to be permitted as the restrictions started to be eased, servicing online orders from the distribution centre based at Rackheath.
Paul Warman, Partner and Head of Leathes Prior’s Corporate Team commented: “It was a pleasure, as always, to work with the Angling Direct Board and senior management team. I am delighted that we have been able to assist in securing further investment for the company during this period of lockdown. Lockdown certainly gave rise to some logistical and legal issues and it was an interesting challenge to find solutions to enable the placing to proceed as planned.”
Martyn Page, Executive Chairman at Angling Direct said: “I always find it reassuring to know we have a dedicated and experienced legal team behind us. Indeed this is essential when very complex projects are involved, such as our recent fund raise through a Placing on the Alternative Investment Market.
As always, the Leathes Prior Corporate Team, led by Paul Warman, excelled again, working long hours to incredibly tight deadlines with their usual efficiency and determination to successfully steer us though the vast web of legal documentation associated with such projects. A job well done, thanks guys.”
Visit the Angling Direct website to learn more about the specialist fishing tackle retailer. To contact the Leathes Prior Corporate Team directly, please do so by emailing info@leathesprior.co.uk or calling 01603 610911.
Updates to auto-renewing subscriptions: What can businesses do to prepare?
Lucy Matthews & Harry Smith in our Corporate & Commercial Team share an update on the Digital Markets, Competition and Consumers Act 2024 (“DMCC Act”) and the introduction of a new regime for consumer subscription contracts due to take effect in Spring 2027.
Uncorking Change: Current Legal Trends Shaping UK Viticulture
Viticulture is now widely recognised as one of the UK’s fastest growing agricultural sectors, supported by investment, climate change and consumer demand. Against that backdrop, the legal landscape is evolving quickly, and vineyards, investors and rural estates must keep pace with a combination of regulatory reform, environmental changes and labour pressures which are materially shaping how vineyards are established and operated. Rebecca Allen, Senior Associate in our Agriculture Team discusses the evolution of viticulture in the UK.
EPCs for Non-Domestic Property: The Latest Changes
The UK Government has announced a significant change to its proposed approach to energy efficiency standards for non-domestic property in England and Wales. For owners, investors and occupiers of commercial property, this is one of the most important developments in the EPC regime since the introduction of MEES. Rebecca Millard, Senior Associate in our Commercial Property Team explains...
Updates to auto-renewing subscriptions: What can businesses do to prepare?
Lucy Matthews & Harry Smith in our Corporate & Commercial Team share an update on the Digital Markets, Competition and Consumers Act 2024 (“DMCC Act”) and the introduction of a new regime for consumer subscription contracts due to take effect in Spring 2027.
Uncorking Change: Current Legal Trends Shaping UK Viticulture
Viticulture is now widely recognised as one of the UK’s fastest growing agricultural sectors, supported by investment, climate change and consumer demand. Against that backdrop, the legal landscape is evolving quickly, and vineyards, investors and rural estates must keep pace with a combination of regulatory reform, environmental changes and labour pressures which are materially shaping how vineyards are established and operated. Rebecca Allen, Senior Associate in our Agriculture Team discusses the evolution of viticulture in the UK.
EPCs for Non-Domestic Property: The Latest Changes
The UK Government has announced a significant change to its proposed approach to energy efficiency standards for non-domestic property in England and Wales. For owners, investors and occupiers of commercial property, this is one of the most important developments in the EPC regime since the introduction of MEES. Rebecca Millard, Senior Associate in our Commercial Property Team explains...
Leathes Prior advises Complete Strategy on sale to Flint Global
Alex Saunders, Partner in Leathes Prior's Corporate Team, advised Complete Strategy on the sale of its business to Flint Global. The acquisition marks Flint Global's first acquisition and represents the first step in its M&A growth strategy.
%20(1).webp)
Maternity Services in England: Recent Reports and What They Mean for Families
In a follow up to our recent article on maternity safety, Polly Langford, Partner in our Personal Injury & Clinical Negligence Team has written on the findings of the Ockenden Report and what this means for families.
Competing uses of farmland - what the new Land Use Framework means for your business
The Government has published the Land Use Framework – which DEFRA says is “a plan for delivering new homes, nature restoration, clean energy and food security." Rebecca Allen, Senior Associate in our Agriculture Team explains what this means and what to consider for your business.
Changes to qualifying period: Time to rethink probation periods?
From 1 January 2027, the qualifying period is reducing from two years to six months. But the reality is that the new law will apply to all employees who have already accumulated at least six months of continuous employment by this date. This means that now is the right time for employers to be reviewing their employment contracts and rethinking strategies on probationary periods.
Proposals for reform of cohabitation rights on the death of a cohabitating partner
Georgia Sartin, a Solicitor in our Property and Contentious Probate Team explores the government’s recent open consultation ‘a fairer end to relationships’ published on 5 June 2026, , in respect of the proposals for reform for cohabitants in the intestacy framework and 1975 Act claims.
%2520cropped.webp)
Who is accountable for maternity safety? The case for a maternity commissioner following the birth trauma inquiry.
The safety of maternity services in England has been under intense scrutiny in recent years, now, a national campaign has been launched for the appointment of a dedicated Maternity Commissioner.
What is the difference between a share sale and an asset sale?
When running a business, company founders and shareholders will inevitably, at one stage or another, want to consider potential succession options, the most prominent being an exit by way of trade sale. Hugo Persad, Trainee Solicitor in our Corporate Team provides an overview of what the difference is between a share sale and an asset sale.
.webp)
UK GDPR Update: What the Data (Use and Access) Act 2025 Means for Organisations
While several updates under the Data (Use and Access) Act 2025 came into force on 5 February 2026, the next key development for organisations is still to come. From 19 June 2026, organisations will be legally required to implement a formal complaint handling process for data protection matters. This is a significant shift, placing greater emphasis on resolving issues internally before they escalate to the regulator.
.webp)
Selling a Probate Property: A Guide for Executors
Acting as an Executor can feel daunting, especially if there is a property which needs to be sold as part of the estate administration process. If you have been appointed as an Executor and you are unsure where to begin, here are some key things to consider.
%2520website.webp)
Leathes Prior's Personal Injury & Clinical Negligence Team Secure Settlement for Client
Kate Smith (Senior Associate) and Kimberley Nelson (Paralegal) were instructed in relation to a workplace personal injury claim, and successfully secured a five-figure settled for the client.
.webp)
New Restrictions to Charitable Giving: What You Need to Know
Changes to UK tax law regarding charitable giving took effect from 6 April 2026. Following legislative amendments in the Finance Act 2025-26, the generous tax exemptions associated with charitable gifts - specifically Inheritance Tax (IHT) exemptions - will be restricted to gifts to UK-registered charities. Ejike Ndaiji, Partner in our Wills, Trusts, & Probate and Charities Team explains...
