Cygnus Metals Seeks Court Approval for Central Asia Metals Acquisition
News related to:Cygnus Metals Limited · 1 min read
TORONTO and PERTH, Western Australia, Sept. 18, 2026 (GLOBE NEWSWIRE), Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) announced today that it will hold a court hearing on September 23, 2026, to seek approval for a proposed acquisition by Central Asia Metals PLC (AIM: CAML) (CAML).
Cygnus Metals Limited is set to undergo a significant corporate restructuring through a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth). The scheme, detailed in the explanatory statement released to the ASX on August 13, 2026, aims to transfer 100% of Cygnus’s shares to Central Asia Metals PLC.
The court hearing, scheduled for 2.15pm (AWST) on September 23, 2026, will take place at the David Malcolm Justice Centre, located at 28 Barrack Street, Perth, Western Australia. Cygnus will present the application for the approval of the scheme to the Supreme Court. The shareholders of Cygnus are also scheduled to meet at 2.00pm (AWST) on September 18, 2026, to vote on the proposed scheme.
If shareholders wish to oppose the application, they must file a notice of appearance with the Supreme Court of Western Australia and serve it on Cygnus by the day before the hearing. The address for service is Hamilton Locke, Level 39, 152-158 St Georges Terrace, Perth WA 6000, attention: James Nicholls.
The conditions precedent to the scheme, including the Kazakhstani regulatory approval, are detailed in section 8.4(c) and Schedule 1 of the Scheme Booklet. Cygnus shareholders can find updates on the status of these conditions in Cygnus’ ASX announcement dated September 14, 2026, titled “Update on Scheme of Arrangement.”
The approval of the scheme is a critical step in the acquisition process, which will significantly impact both companies involved. Cygnus shareholders and stakeholders are advised to review the Scheme Booklet and any updates provided by the company for further details.