Last week I noticed a certain someone on SM trying to put the frighteners on holders about the upcoming escrow shares hitting the market.
What I hadn't noticed in the quarterly, right at the end, was this:
"As the expiry of voluntary and mandatory escrow periods approach, the Company has spoken to founder, management and director shareholders who have all expressed their willingness to extend voluntary escrow over their holdings for a further 12 months to July 2019."
It is worth noting that the escrow period of these shares had already been voluntarily extended in July last year:
"Pointerra is pleased to confirm that... original vendor shareholders holding 82,287,024 ordinary fully paid shares have entered into voluntary restriction agreements for a further 12 month period until 30 June 2018. These shareholders have also agreed to a further 12 month escrow period on their holding of Class B Performance Shares and Class C Performance Shares."
Whatever the reason for the current weakness, I suspect the escrow expiration had something to do with it.
I think it says a lot about founders/managment/executive confidence in 3DP that they are happy to wait another 12 months for release from escow when, presumably, their shares - and ours - will enjoy a higher valuation.
