Cygnus Metals Limited has reminded shareholders that its Scheme Meeting to approve the proposed acquisition by Central Asia Metals PLC will be held at 2.00pm AWST on 18 September 2026 in Perth, with voting open to shareholders on the register at 5.00pm AWST on 16 September 2026. Under the scheme of arrangement, CAML will acquire 100% of the shares in Cygnus. North Macedonian merger clearance has been obtained, the Independent Expert has concluded the Scheme is fair and reasonable and in the best interests of Cygnus shareholders absent a superior alternative, and CAML shareholders have approved the resolution to allot the New CAML Shares. The Toronto Stock Exchange has conditionally approved the listing of CAML shares including the New CAML Shares, though this is not a condition precedent. The Kazakhstan regulatory approval condition precedent remains in process, with the statutory timetable requiring a decision by no later than Thursday, 1 October 2026, meaning it may not arrive before the Scheme Meeting or the current Second Court Date of 23 September 2026; if it does not, Cygnus may apply to defer the Second Court Date or seek approval to treat the Kazakhstan approval as a condition subsequent, and CAML has said it is not aware of any specific reason the approval will not be received in the ordinary course. Each Cygnus Director recommends shareholders vote in favour of the Scheme and intends to vote any shares they own or control in favour, absent a Superior Proposal and subject to the Independent Expert continuing to conclude the Scheme is in the best interests of Cygnus shareholders.
Central Asia Metals PlcCAML's acquisition of Cygnus advances with North Macedonian clearance and shareholder approval, but Kazakhstan regulatory approval timing remains uncertain and may not arrive before the Scheme Meeting or Second Court Date.
OK Rusal MKPAOCygnus's scheme meeting is set for 18 September 2026, but the Kazakhstan regulatory approval condition precedent may not be received before the meeting or court date, creating timing uncertainty for the CAML takeover.
