Fish seizing pole or reel, say (5)
I believe the answer is:
dance
'reel say' is the definition.
(reel is a kind of dance)
'fish seizing pole' is the wordplay.
I cannot quite see how this works, but
'pole' could be 'n' (abbreviation for North, as in North Pole) and 'n' is found within the answer.
'fish' could be 'dace' (dace is a kind of fish) and 'dace' is found in the leftover letters.
This accounts for all the letters.
This explanation may well be incorrect...
'or' acts as a link.
Can you help me to learn more?
(Other definitions for dance that I've seen before include "Ball; hop" , "Flamenco, perhaps" , "Social gathering" , "See 4" , "social function" .)