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.
Firstly, digital marketer engage:BDR (ASX:EN1) has issued a correction to a previous announcement that it had 147 million shares coming out of escrow.
It says that number should have been 73 million, half the total. It assured investors none of the shares were traded or disposed of.
“The company has arranged for trading locks to be re-imposed on 73,464,065 fully paid ordinary shares,” it said. The escrow period will now expire on December 14 this year, two years on from the company’s listing.
Hylea Metals (ASX:HCO) has a clean 1 billion shares, or 36 per cent of its total, being released on February 2.
They were originally issued as part of the settlement of the acquisition of Providence Metals.
Queensland apartment builder Velocity Property (ASX:VP7) has a whopping 66 per cent of its total, or 239 million, shares coming out of escrow on February 7, the day it celebrates two years on the ASX.
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Both Nickel Mines (ASX:NIC) and music authentication tech company Jaxsta (ASX:JXT) are releasing shares from escrow in tranches over the coming week.
Tymlez (ASX:TYM) has just 0.08 per cent of its total being released, or 98,183 shares, on January 30. They were originally held by investors who climbed in before its IPO.
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 HCO Hylea Metals 2-Feb 1,000,000,000 36% JXT Jaxsta 8-Feb 2,625,002 1% VP7 Velocity Property 7-Feb 239,490,450 66% IGE Integrated Green Energy Solutions 7-Feb 94,283,320 24% AC8 AusCann 3-Feb 132,707,146 43% VMT Vmoto 31-Jan 11,764,706 5% VEN Vintage Energy 12-Feb 25,875,000 10% 14D 1414 Degrees 1-Feb 500,000 0.3% NIC Nickel Mines 31-Jan 6,635,662 0.5% COB Cobalt Blue 2-Feb 20,492,184 16% RZI Raiz Invest 25-Jan 10,180,579 15% TYM Tymlez 30-Jan 98,183 0.08%
The post Escrow Watch: Heat wave? 1.5bn escrowed ASX shares are going for a dip appeared first on Stockhead.
