Picture: Getty Images
Escrow Watch: More than half a billion shares are popping onto the ASX in the next fortnight
Escrow Watch
share
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 after the last paltry fortnight, when only around 82 million shares dropped onto the ASX, this time there is in excess of half a billion. 514,271,722, to be precise.
AustSino Resources (ASX:ANS) has the highest proportion of shares coming out of escrow, with 181 million — only 4 per cent of its issued total — coming out of escrow on May 2.
Mobilicom (ASX:MOB) has the highest proportion being released, with 38 per cent of its total, 82 million, out May 2, while WiseTech Global (ASX:WTC) has the fewest, with 189k, or just 0.06 per cent of its total, out April 30.
Note that 1414 Degrees (ASX:14D), QEM (ASX:QEM) and Moho Resources (ASX:MOH) are all releasing their escrowed shares in tranches. The date listed in the table below is the date the final tranche will be released.
Australia’s biggest pot stock Cann Group (ASX:CAN) has 33 million shares being released on May 6. The company confirmed the directors and CEO hold about 9.2 million shares, with no intention to sell.
Meanwhile, over at Weebit Nano (ASX:WBT), the three largest shareholders with shares in escrow have committed to a block trade sale of all their remaining WBT shares, totalling more than 6.5 million.
“I would like to thank these shareholders for their vision in setting up Weebit and their seed financial support in the early phase of the company. Their focus now lies with other business interests, and we wish them luck. We are very pleased they have placed the majority of their shares into the hands of sophisticated, long term shareholders of Weebit, removing the significant market overhang associated with their holdings,” Weebit chief Coby Hanoch said.
- Subscribe to our daily newsletter
- Join our small cap Facebook group
- Follow us on Facebook or Twitter
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 |
|---|---|---|---|---|
| CAN | Cann Group | 6-May | 32,720,001 | 23% |
| ANS | AustSino Resources | 2-May | 181,818,182 | 4% |
| MOB | Mobilicom | 2-May | 81,954,413 | 38% |
| VHT | Volpara Health Technologies | 27-Apr | 51,482,213 | 29% |
| SLZ | Sultan Resources | 28-Apr | 947,500 | 2% |
| MMI | Metro Mining | 30-Apr | 6,779,245 | 0.5% |
| LTR | Liontown Resources | 1-May | 1,785,714 | 0.1% |
| 14D | 1414 Degrees | 1-May | 1,787,952 | 1% |
| TKM | Trek Metals | 27-Apr | 10,566,636 | 2% |
| EMV | EMvision Medical Devices | 30-Apr | 1,793,250 | 3% |
| QEM | QEM | 1-May | 447,185 | 0.4% |
| WTC | WiseTech Global | 30-Apr | 188,921 | 0.06% |
| TPW | Temple & Webster | 27-Apr | 103,750 | 0.09% |
| MOH | Moho Resources | 7-May | 869,192 | 2% |
| NOX | Noxopharm | 8-May | 31,027,568 | 25% |
| GPP | Greenpower | 22-Apr | 110,000,000 | 7% |
