Cygnus Metals Limited (TSXV: CYG, ASX: CY5, OTCQB: CYGGF) has announced that the Supreme Court of Western Australia has ordered an adjournment of the Second Court Hearing related to the proposed scheme of arrangement under which Central Asia Metals PLC (AIM: CAML) will acquire 100% of Cygnus shares. The hearing, originally scheduled for 23 September 2026, has been rescheduled to 14 October 2026 to allow additional time for an outstanding Kazakhstan regulatory approval to be satisfied or waived. The delay shifts key implementation dates across the scheme timetable, which investors in both companies will be monitoring closely.

Key Points

  • Cygnus Metals Limited (TSXV: CYG, ASX: CY5, OTCQB: CYGGF) listed on the TSX Venture Exchange
  • The Second Court Hearing for the CAML acquisition scheme has been adjourned from 23 September to 14 October 2026
  • Kazakhstan regulatory approval remains outstanding; CAML expects approval on or before 12 October 2026
  • Investors should watch for a formal shareholder notice from Cygnus by no later than 9 October 2026 regarding hearing details

Kazakhstan Regulatory Condition Holds Up Cygnus Scheme Approval

The adjournment stems directly from a single outstanding condition precedent: Kazakhstan regulatory approval required for the scheme to proceed. The release states that Cygnus requested the Court adjournment to allow additional time for this approval to be satisfied or waived. CAML has advised Cygnus that it remains confident the required approval will be granted and expects it to be received on or before 12 October 2026. Should approval arrive earlier than anticipated, Cygnus has indicated it will make a further announcement and assess whether the Second Court Hearing date can be brought forward.

Revised Scheme Timetable and Key Dates for CYG Shareholders

As a direct consequence of the adjournment, the indicative scheme timetable has been updated. The Effective Date — the date Cygnus shares are suspended from trading on the ASX and TSXV — is now Thursday, 15 October 2026. The deadline for Sale Election Forms and CREST Election Forms is extended to 5:00pm AWST / 5:00am EDT on 15 October 2026. The Scheme Record Date is set for 5:00pm AWST on Monday, 19 October 2026, with the Implementation Date moved to Tuesday, 27 October 2026. The company notes these dates remain indicative and subject to change.

Shareholder Participation Rights at the Rescheduled Hearing

Cygnus has committed to formally notifying shareholders of the updated Second Court Hearing details by no later than 9 October 2026. That notice will include the process for appearing at the hearing and opposing scheme approval, as well as the name and address for service on Cygnus. The hearing will be held at the David Malcolm Justice Centre, 28 Barrack Street, Perth, Western Australia. The immediate share price impact was not clear from available public information.