Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) announced on September 18, 2026 that shareholders voted overwhelmingly in favour of a proposed scheme of arrangement under which Central Asia Metals PLC (AIM: CAML) will acquire 100% of Cygnus shares. The Scheme Resolution passed both the Minority Approval Vote and the Requisite Majorities required under the Corporations Act 2001. The result moves the transaction closer to completion, with Court approval and trading suspension now on the immediate horizon, making this a critical development for investors holding CYG shares.

Key Points

  • Cygnus Metals Limited (TSXV: CYG; ASX: CY5; OTCQB: CYGGF) announced shareholder approval of its scheme of arrangement with Central Asia Metals PLC
  • 98.35% of total votes cast at the Scheme Meeting were in favour of the Scheme Resolution
  • Court approval hearing is scheduled for 2:15pm AWST on Wednesday, September 23, 2026; Scheme implementation is targeted for Monday, October 5, 2026
  • Investors should monitor the Second Court Hearing outcome and any updates regarding outstanding conditions precedent, including Kazakhstan regulatory approval

Scheme Meeting Vote Results for Cygnus Metals

At the Scheme Meeting held September 18, 2026, Cygnus Metals shareholders voted decisively in favour of the proposed transaction. The release states that 81.38% of shareholders present and voting supported the resolution, while 98.35% of total votes cast were in favour. Additionally, 97.88% of votes cast by Scheme Shareholders — excluding votes required to be excluded under MI 61-101 for the Minority Approval Vote — supported the Scheme. Voting was conducted by poll, in accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act.

Central Asia Metals Acquisition Timeline and Court Approval Steps

Following the shareholder vote, Cygnus will apply to the Supreme Court of Western Australia for Scheme approval at a hearing scheduled for September 23, 2026. If approved, the company intends to lodge Court orders with ASIC on September 24, 2026 — the proposed Effective Date. Cygnus is expected to be suspended from trading on the ASX from the close of trading on September 24 and on the TSXV from the close of trading on September 23, 2026. The Scheme implementation date is targeted for October 5, 2026, when new CAML shares are also expected to commence trading on AIM.

Outstanding Conditions Precedent Including Kazakhstan Regulatory Approval

The announcement notes that all stated dates are indicative and depend on factors outside Cygnus and CAML's control, including Court approval and the satisfaction or waiver of conditions precedent. The disclosure references a September 14, 2026 update indicating that a Kazakhstan regulatory approval condition precedent had not yet been satisfied as of that date. Investors may be watching for further updates on whether this and any remaining conditions are resolved before the Second Court Hearing proceeds as scheduled.