Cygnus Metals Limited shareholders have overwhelmingly voted in favour of the proposed transaction under which Central Asia Metals PLC will acquire 100 percent of the shares in Cygnus through a scheme of arrangement.

At the scheme meeting, 98.35 percent of the total votes cast were in support of the resolution, while 81.38 percent of shareholders present and voting cast ballots in favour. Additionally, 97.88 percent of the total numbers of votes cast by scheme shareholders voting as a single class backed the arrangement, successfully clearing the required majorities and the minority approval vote.

Under the transaction terms initially announced on 2 June 2026 with an implied value of A$232 million, Central Asia Metals will take full ownership of Cygnus and its portfolio. Cygnus holds the Chibougamau Copper-Gold Project in Quebec alongside lithium assets in the James Bay district and base metal and rare earth element projects in Western Australia.

Implementation of the scheme remains conditional on remaining approvals and court clearance. Cygnus is scheduled to attend the Supreme Court of Western Australia for the second court hearing to approve the scheme at 2:15pm AWST on September 23, 2026.

If the court grants approval at the hearing, Cygnus intends to lodge a copy of the court orders with the Australian Securities and Investments Commission on September 24, 2026, at which point the scheme will become effective. Trading in Cygnus shares on the TSXV is expected to be suspended from the close of trading on September 23, 2026, with suspension from the ASX following at the close of trading on September 24, 2026.

The transaction is scheduled for implementation on Monday, October 5, 2026, with new Central Asia Metals shares scheduled to commence trading on AIM on the same date.

Read the full announcement: Results of Scheme Meeting