Cygnus Shareholders Approve Acquisition by Central Asia Metals PLC
News related to:Cygnus Metals Limited · 1 min read
PERTH, Western Australia, Sept. 18, 2026 (GLOBE NEWSWIRE), Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) announced today that shareholders have voted in favor of a proposed acquisition by Central Asia Metals PLC (AIM: CAML) (CAML) under a scheme of arrangement. The scheme, which is governed by Part 5.1 of the Corporations Act 2001 (Cth), was approved by a significant majority of shareholders.
According to the results of the scheme meeting, 81.38% of Cygnus Shareholders present and voting supported the scheme resolution. Additionally, 98.35% of the total number of votes cast by Cygnus Shareholders were in favor of the resolution. Excluding certain votes required to be excluded by MI 61-101, 97.88% of the total numbers of votes cast by Scheme Shareholders voted in favor of the resolution.
Cygnus plans to apply to the Supreme Court of Western Australia for approval of the scheme at a hearing scheduled for 2:15pm (AWST) on Wednesday, September 23, 2026. If the court approves the scheme, Cygnus intends to lodge a copy of the court orders with ASIC on Thursday, September 24, 2026, making the scheme effective. The company expects to be suspended from trading on the ASX from the close of trading on Thursday, September 24, 2026, and the TSXV from the close of trading on Wednesday, September 23, 2026. The scheme is expected to be implemented on Monday, October 5, 2026.
The key dates and times for the implementation of the scheme are as follows: - Hearing for court approval: Wednesday, September 23, 2026, at 2:15pm (AWST) - Lodging of court orders with ASIC: Thursday, September 24, 2026 - Implementation of the scheme: Monday, October 5, 2026
Cygnus advises that the actual timetable may be subject to changes due to factors outside the company's control, including the court approval process and the satisfaction or waiver of the conditions precedent to the completion of the scheme. Any changes will be announced to ASX and available under Cygnus' profile on ASX at www.asx.com.au.