Escrow Watch: These ASX stocks are releasing escrowed shares this month

Escrow Watch is Stockhead’s monthly recap of the ASX companies that are releasing shares currently in escrow over the coming weeks.

ASX shares in escrow are “locked away” so owners can’t sell them – until they’re released. This is intended to depict to potential investors that 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 are able to can be unsettling – particularly if shares have substantially moved on way or the other.

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

Here’s a list of ASX companies releasing shares from escrow in May 2021…

Code	Company	Date of Release	Shares	% of company
CE1	Calima Energy	6 May	15,185,904	<1%
MKR	Manuka Resources	6,11,12 May	4,595,593	1.71%
MRZ	Mont Royal Resources	7 May	4,665,845	14.05%
APH	Australian Primary Hemp	11 May	500,000	<1%
CLU	Cluey	8 May	4,220,896	3.53%
PYR	Payright	21-25 May	8,814,838	9.89%
CF1	Complii Fintech Solutions	19 May	1,360,164	<1%
ERW	Errawarra Resources	28 May	10,487	<1%
WSR	Westar Resources	12 May	1,048,952	3.40%
TIP	Teaminvest Private	24 May	22,535,380	20.60%
PWN	Parkway Minerals	15 May	8,000,000	<1%
AX8	Accelerate Resources	27 May	125,000	<1%
FHS	Freehill Mining	14 May	75,000,000	4.5%

The most notable companies

One of the ASX’s newer BNPL stocks, Payright (ASX:PYR), is ready for an escrow release. It is releasing 2,414,922 million shares on May 21 and another 6,399,916 shares on May 25 – both 12 months from when those shares were issued.

While many of its larger peers have enjoyed big gains over the last couple of years, Payright has not – nearly halving since its debut.

Another relatively news ASX listee releasing shares from escrow this month is Cluey (ASX:CLU), which is a tutoring service – it is releasing a parcel of 4.2 million shares this coming Saturday.

This parcel represents just over 3.53 per cent of the company and also marks 12 months since those investors chipped into the company but is a small amount of the total shares under escrow arrangements (which totals over 33 million).

A handful of gold plays are on the list too with Mont Royal Resources (ASX:MRZ) releasing 4.6 million shares today, Manuka Resources (ASX:MKR) releasing 3 million shares this coming Wednesday (May 12) and Westar Resources (ASX:WSR) releasing just over 1 million shares also on May 12.

Topping the lot, private equity group TeamInvest (ASX:TIP) is scheduled to release over 24 million in ASX shares from escrow on May 24 – representing over 20 per cent of the company. This date marks two years since its IPO.