Safestore chief executive locks up some cash

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.

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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 Buys

TVC Holdings (TVCH)

Director name: Mr Shane Reihill

Amount purchased: 725,000 @ 60.80p

Value: £440,800

Safestore Holdings (SAFE)

Director name: Mr Peter Gowers

Amount purchased: 100,000 @ 105.00p

Value: £105,000

Ashmore Group (ASHM)

Director name: Mr Melda Donnelly

Amount purchased: 20,000 @ 394.42p

Value: £78,884

EnQuest (ENQ)

Director name: Dr James Buckee

Amount purchased: 50,000 @ 90.75p

Value: £45,375

Taylor Wimpey (TW.)

Director name: Mr Mike Hussey

Amount purchased: 75,000 @ 35.50p

Value: £26,625

Daily Mail and General Trust (DMGT)

Director name: Mr Padraic M Fallon

Amount purchased: 4,000 @ 587.25p

Value: £23,490

Zenergy Power (ZEN)

Director name: Mr Simon Cleaver

Amount purchased: 400,000 @ 5.84p

Value: £23,360