Escrow Watch: Here’s 747 million shares, cleared for takeoff
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Want to know when shares are coming out of escrow? We’ve been keeping tabs, so you don’t have to.
Every two weeks, Stockhead takes a look at the small cap companies who are releasing shares that have been locked away in escrow.
Escrow refers to shares that are held by early investors or directions restrained from selling for a year or two. The release of escrowed shares can have a big impact on stock price, because a sudden influx of stock onto the market can depress the shares you own.
And in the next fortnight, 747 is not just one of Boeing’s most iconic planes. It the number of millions of ASX small cap shares being released from escrow.
Two companies have extraordinarily high proportions of their shares coming out of escrow: G Medical (ASX:GMV) and Zoono (ASX:ZNO).
G Medical has 234 million shares coming out of escrow, a whopping 64 per cent of its total, while Zoono has 102 million shares being released, some 63 per cent of its total.
The vast majority of Zoono’s issued shares are now available for trading; only 300,000 remain in escrow, due out on 15 March 2021.
Euro Manganese (ASX:EMN) has 1.5 million shares coming out of escrow on May 9 but they are not being quoted on the ASX.
“The company confirms some or all of these securities may be quoted on the Toronto Stock Venture Exchange.”
Moho Resources (ASX:MOH) is releasing its escrowed shares in tranches. The date listed in the table below is the date the final tranche will be released.
Alan Dixon and David Evans, founders of Evans Dixon, have said they won’t sell the 21.2 million shares they own until at least 2022, which make up a proportion of the 51.2 million the company has coming out escrow.
The company’s staff owns the bulk of the remaining escrowed shares.
Here’s a list of ASX stocks that have signalled escrow releases in the next fortnight:
Scroll or swipe to full reveal table. Click headings to sort
|ASX code||Company||Date released||Escrowed shares||% of all shares|
|BCB||Bowen Coking Coal||11-May||30,000,000||4%|