BioSource International to Release Escrow Shares

BioSource International Inc., a Camarillo supplier of medical test kits, plans to release about 1.1 million shares of common stock that it has held in escrow since June, 1992.

The shares are expected to be released by Dec. 31, upon completion of the company’s 1994 financial audit. Release of the shares will result in a onetime charge against BioSource’s 1994 earnings. The charge was required by the Securities and Exchange Commission because 504,000 of the shares now in escrow are being given to two officers of the company and one former officer as compensation. The company said it had yet to learn the size of the charge.

The escrow agreement was required by the British Columbia Securities Commission when BioSource’s predecessor company became publicly traded in Canada. The company said it has now fulfilled all the performance goals of the agreement.