Big Yellow director lowers stake

Adrian Lee, operations direction at Big Yellow Group sold nearly £250,000 in shares in the self storage firm yesterday, the company revealed today.

He offloaded 123,462 shares at an average price of 196p a share, which means he now has 889,187 shares or 0.77% of the issued share capital of the company.

In his last big sale of shares, last February, Lee sold 70,000 shares, but made nearly £300,000 as he sold them at 427p a time.

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Big Yellow, whose highly visible storage centres are located mainly in London and the south, has been hit hard by recessionary conditions.

Earlier this month it said occupancy of its storage space fell by 3% in the three months to the end of September, with trading conditions also tough in the last three months of 2008.

"We have no doubt that the cyclical environment for consumer facing businesses will continue to be difficult for the foreseeable future, but we look forward to our seasonally more buoyant spring and summer period," chief executive James Gibson said.

Big Yellow floated on the Alternative Investment Market in 2000 and is now a FTSE-250 constituent.

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