The most significant director deals over the last week have been in the sell column. Top of the list is a transaction involving the chairman of self-storage provider Big Yellow (BYG) Nicholas Veitch through his wife Catherine Veitch.
In two separate transactions on 27 August and 2 September she sold £3.8 million and £1.7 million worth of shares respectively, leaving the chair’s family with 6.4 million shares or 3.5% of the company’s shares.
BIG YELLOW DEALING FOLLOWS STRONG Q1
Big Yellow’s first quarter trading update revealed a 15.1% increase in revenue as it hit a longstanding target of 90% occupancy although CEO Jim Gibson did caution on remaining ‘short term uncertainties’.
He also said a return to more ‘normal seasonal trading patterns’, having experienced a robust performance during its traditionally strong summer period, was expected.
The long-serving chief executive of convenience foods manufacturer Greencore (GNC) Patrick Coveney sold 950,000 shares for £1.35 million.
This followed the release of 3,567,504 ordinary shares which were pledged by Coveney as collateral against a personal loan in November 2020.
WHO’S BEEN BUYING
There were some more modest-sized purchases as insurance firm Admiral’s (ADM) non-executive director William Roberts bought $250,350 worth of the firm’s ADRs (American Depository Receipts) in New York.
Industry veteran Roberts, who spent more than three decades at US insurer GEICO, joined the Admiral board in June 2021.
Elsewhere the chair of emerging market focused bank Standard Chartered (STAN) Jose Viñals snapped up £52,032 shares in the wake of August’s better-than-expected first half results.
