Escrow Watch: 300 million shares are landing on 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 which 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.
Exore Resources (ASX:EXR) has the highest number of shares being released from escrow, with 90 million coming out on March 29.
That will be a popular day — four other companies are releasing shares from escrow on that day, as you can see in the table below. March 25 will see three companies release escrowed shares.
CommsChoice (ASX:CCG) has the highest proportion of shares coming out of escrow, with 54 per cent of its issued total, or 65 million, released on March 25.
Stealth Global (ASX:SGI) is releasing 6.3 million shares on April 2. The shares were issued to shareholders of Heatleys Group, which it acquired last year.
“The former Heatleys vendors have advised the company that they remain committed and invested in the strategic pathway, expansion and growth plans of the Stealth organisation,” the company says.
Weebit Nano (ASX:WBT) has a little over 10 million shares being released on March 31.
Its founding shareholders originally agreed to escrow 251 million of its shares, but the company last month undertook a 25-to-1 share consolidation, reducing the number of shares.
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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 |
|---|---|---|---|---|
| ONX | Orminex | 16-Apr | 1,363,477 | 0.3% |
| CG1 | Carbonxt | 17-Apr | 12,755,186 | 14% |
| THD | Thred | 13-Apr | 10,700,000 | 0.6% |
| KKL | Kollakorn | 16-Apr | 58,836 | 0.03% |
| KWR | Kingwest Resources | 26-Apr | 1,125,000 | 2% |
| NWC | New World Cobalt | 16-Apr | 685,607 | 0.1% |
| AOU | Auroch Minerals | 9-Apr | 2,766,666 | 3% |
| E2M | E2 Metals | 19-Apr | 6,708,441 | 9% |
| RZI | Raiz Invest | 11-Apr | 18,400,197 | 28% |
| PIO | Pioneer Resources | 10-Apr | 17,499,998 | 1% |
| AEB | Affinity Energy & Health | 6-Apr | n/d | n/a |
| MMI | Metro Mining | 8-Apr | 2,307,294 | 0.2% |
| TRT | Todd River Resources | 6-Apr | 8,023,146 | 5% |
