Director's Pledge

RNS Number : 8255E

Big Yellow Group PLC

06 June 2012

 



BIG YELLOW GROUP PLC

("Big Yellow" or the "Company")

6 June 2012

Share Pledge by a Director

Big Yellow announces that it has today been notified that Philip Burks, a Non-Executive Director, entered into an agreement on Friday 1 June whereby security over 600,000 ordinary shares of 10p in the Company (the "First Pledged Shares") held by him was granted in favour of Barclays Bank plc ("Barclays"), as security against a personal loan also entered into on Friday 1 June 2012 (together the "First Pledge Agreement"). Under the terms of the First Pledge Agreement, title to the First Pledged Shares can be transferred to, sold or otherwise dealt with by Barclays following the occurrence of a failure to pay any amount due and payable under the personal loan.

Big Yellow has also been notified today that Mr Burks entered into a second agreement on Friday 1 June whereby security over 75,000 ordinary shares of 10p in the Company (the "Second Pledged Shares") held by him was granted in favour of the Norwich and Peterborough Building Society ("Norwich & Peterborough"), as security against a personal loan also entered into on Friday 1 June 2012 (together the "Second Pledge Agreement"). Under the terms of the Second Pledge Agreement, title to the Second Pledged Shares can be transferred to, sold or otherwise dealt with by Norwich & Peterborough following the occurrence of a failure to pay any amount due and payable under the personal loan.

There is no change in Mr Burks's overall shareholding in the Company, and he continues to have an interest in 6,120,849 shares representing approximately 4.71% of the issued share capital of the Company.

Enquiries:

John Trotman, Chief Financial Officer	01276 477 811
Shauna Beavis, Company Secretary	01276 477 811

 

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