In August, nearly 20 ASX companies are releasing nearly 1 billion escrowed shares.

Escrow Watch is Stockhead’s monthly recap of the ASX companies that are releasing shares currently in escrow (also known as restricted securities) over the coming weeks.

ASX shares in escrow are “locked away” and not listed on the bourse so owners can’t sell them – until they’re released.

This is intended to depict to would-be investors when raising capital that the management and previous investors are still backing the venture and aren’t raising capital just so they can “sell out”.

While there’s no guarantee holders of escrowed shares will sell on release, the mere fact that they will be able to is worth knowing – particularly if shares have substantially moved one way or the other.

Click here for a more detailed description of the ASX rules surrounding escrow and the releasing of shares and some examples.

 

Here’s a list of ASX companies releasing restricted securities in August 2021…

Code Company Date of Release Shares Approximate % of shares on issue
NZS New Zealand Coastal Seafoods 5-Aug 231,604,684 38.80%
CGB Cann Global Ltd 16-Aug 524,190,808 10.20%
AUN Aurumin 12-Aug 3,975,000 7.50%
TNT Tesserent 2-Aug 76,923,078 7.20%
APV AppsVillage 27-Aug 15,277,549 16.3%
FCL Fineos TBD 85,171,235 32%
IMR Imricor 29-Aug 9,861,747 8.50%
DUG DUG Technology 10-Aug 21,915,439 34.70%
CLU Cluey 8-Aug 4,443,714 4.98%
NNG Nexion 17-Aug 49,600 <1%
GFN Gefen International A.I Ltd 3 & 14 August 966672 1.76%
COD Coda Minerals Ltd 6 Aug & 21 Aug 6,490,001 7.63%
AUA Audeara Ltd 31-Aug 10,063 <1%
AWJ Auric Mining Ltd 22-Aug 500,000 1.10%
AUN Aurumin Ltd 3-Aug & 12 Aug 4,000,000 7.56%
PF1 Pathfinder Resources Ltd 27-Aug 172,049 <1%
AKO Akora Resources Ltd 6 & 13 Aug 1117856 2.19%
SHE Stonehorse Energy Ltd 16-Aug 5,710,000 <1%
MAN Mandrake Resources Ltd 12-Aug 15,700,727 3.70%

In last month’s edition we noted BNPL company Sezzle (ASX:SZL) was releasing nearly 50% of its shares two years on from its IPO – much of them owned by co-founders Charlie Youakim and Paul Paradis.

One company in a similar position is Fineos (ASX:FCL) which specialises in insurance software.

It has 85 million shares, most of which are owned by CEO and founder Michael Kelly and pencilled in to be released from escrow at 4.15pm (AEST) on the day it releases its annual results, which are due by the end of this month.

Another 85 million were released from escrow at the same point last year.

New Zealand Coastal Seafoods (ASX:NZS) is releasing 231 million in shares this coming Thursday, August 5, two years since it listed.

Cann Global (ASX:CGB) is also releasing escrowed shares on the second anniversary of its listingjust over 500 million shares on August 16.

A couple of more recent listees include supercomputing stock DUG Technology (ASX:DUG) which is releasing over 30% of shares and Gefen (ASX:GFN) which is releasing just under 2% of its shares in two separate tranches this month.

The balance predominantly consists of resources stocks. One of the more notable is Coda Minerals (ASX:COD) which has gone gangbusters since an IOCG discovery earlier this year.

Although it listed in October last year, it is releasing 6.45 million shares on August 6 and August 21 which marks one year since those shares were issued.

One that hasn’t had as much success is WA goldie Aurumin (ASX:AUN) which initially soared on debut but has flatlined since. It is releasing 4 million shares across two tranches, tomorrow and then on August 12 (next Friday).