Saunders International (ASX:SND) said 9.5 million fully paid ordinary shares subject to voluntary arrangements will be released from escrow on June 30, according to a Monday Australian bourse filing.
The company said the shares were issued on Oct. 16, 2025, and Nov. 25, 2025, as part of the consideration for the acquisition of the Aqua Metro group of companies.
The company's shares fell 3% on market close.