Christmas Stock picks: Vp 22/12/2011
Benefits of past investment will benefit Vp, suggests Les Copeland
Anglo-French self-storage provider Safestore has boosted its boardroom firepower with the hiring of Arsenal football club’s former managing director Keith Edelman.
Safestore, which has recently enjoyed an increased level of enquiries and new lets attributed to a pick-up in the housing market, has appointed Edelman as a non-executive director. Before his stint at the ‘Gunners’, where he coordinated the north London football club’s move to its new home at the Emirates Stadium and to record profits, Edelman was chief executive at retail group Storehouse, though he resigned after a slump in profits.
Edelman is currently chairman of bookmaking newcomer Metroracing, as well as the Bedfordshire leisure and science centre Nirah. Previous jobs include executive directorships at Carlton Communications and Ladbroke Group as well as non-executive roles at Eurotunnel and Glenmorangie.
Safestore, which left AIM in 2003 by a Bridgepoint-backed management buy-out only to return to the Full List four years later, has been resurgent since hitting a three-year share price low of 38p in December. The present 145p values the company at £273 million.
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