Escrow Watch: 261 million shares are creeping onto the ASX in the next fortnight
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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 that are releasing shares that have been locked away in escrow.
Escrow refers to shares that are held by early investors or directors 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.
Over the coming fortnight nearly 261 million shares are being released from escrow.
Creso Pharma (ASX:CPH) has a tick over 2 million shares due out on September 20. The shares were issued to the vendors of Kunna Canada, a company Creso acquired in December last year.
Creso is itself, now being acquired. Canadian-listed pot stock PharmaCielo is the purchaser.
Sixty-six million shares will be released by Mayur Resources (ASX:MRL) on September 23.
The company said that while it cannot predict the investment decisions of the individual holders, “it has been confirmed by a majority of these holders that they have no intention of divesting post-escrow”.
Similarly, owners of 58 million shares being released by Titomic (ASX:TTT) won’t be sold either.
“I’m proud and privileged to lead an expert team that is completely committed to the growth and development of the company with an expectation to see substantial revenue realised in the near-term and beyond,” Titomic boss Jeff Lang said.
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
|Code||Company||Date Released||Escrowed shares||% of shares on issue|