Safestore chief executive locks up some cash

28th Sep 2011 15:32

Safestore's chief executive Peter Gowers has made his first deposit since joining the self storage company in February, spending more than £100,000. He took 100,000 shares at 105p a time.Gowers is a former chief executive of Holiday Inn owner InterContinental Hotels Group's Asia Pacific division.Safestore last month revealed a 5.4% increase in third quarter revenue but it remains cautious about the fragile economic conditions and the potential impact on consumer confidence. The group said it was likely to see higher levels of vacancies over the next two quarters following strong occupancy growth in the third quarter. Revenue for the quarter ended 31 July 2011 was £24.1m, up 5.4% over the same quarter in 2010 and up 7.3% from the second quarter. Top Director BuysTVC Holdings (TVCH) Director name: Mr Shane ReihillAmount purchased: 725,000 @ 60.80p Value: £440,800Safestore Holdings (SAFE) Director name: Mr Peter GowersAmount purchased: 100,000 @ 105.00p Value: £105,000Ashmore Group (ASHM) Director name: Mr Melda DonnellyAmount purchased: 20,000 @ 394.42p Value: £78,884EnQuest (ENQ) Director name: Dr James BuckeeAmount purchased: 50,000 @ 90.75p Value: £45,375Taylor Wimpey (TW.) Director name: Mr Mike HusseyAmount purchased: 75,000 @ 35.50p Value: £26,625Daily Mail and General Trust (DMGT) Director name: Mr Padraic M FallonAmount purchased: 4,000 @ 587.25p Value: £23,490Zenergy Power (ZEN) Director name: Mr Simon CleaverAmount purchased: 400,000 @ 5.84p Value: £23,360