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TORONTO and PERTH, Western Australia, Sept. 18, 2026 (GLOBE NEWSWIRE) — Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (Cygnus or the Company) refers to the proposed transaction under which Central Asia Metals PLC (AIM: CAML) (CAML) will acquire 100% of the shares in Cygnus pursuant to a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Corporations Act), (Scheme).
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Cygnus is pleased to announce that Scheme Shareholders today voted in favour of the Scheme.
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Capitalised terms in this announcement that are not otherwise defined have the meaning given to them in the Scheme Booklet dated 13 August 2026.
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Results of the Scheme Meeting
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In accordance with ASX Listing Rule 3.13.2 and section 251AA(2) of the Corporations Act, Cygnus advises that the Scheme Resolution was passed by the Minority Approval Vote and the Requisite Majorities of Cygnus Shareholders at the Scheme Meeting held earlier today.
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In summary, at the Scheme Meeting voting on the Scheme Resolution was conducted and carried out on a poll, and was passed by the following majorities:
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- 81.38% of Cygnus Shareholders present and voting at the Scheme Meeting (in-person, or by proxy, corporate representative or attorney) were in favour of the Scheme Resolution;
- 98.35% of the total number of votes cast by Cygnus Shareholders at the Scheme Meeting were in favour of the Scheme Resolution; and
- 97.88% of the total numbers of votes cast by Scheme Shareholders at the Scheme Meeting (in-person or by proxy, corporate representative or attorney), voting as a single class, on the basis of one vote per Scheme Share held, excluding for the purposes of the Minority Approval Vote, those votes required to be excluded by MI 61-101.
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Details of the valid proxies received and votes cast at the Scheme Meeting are set out in Annexure A and Annexure B to this announcement.
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Next steps
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Cygnus will apply to the Supreme Court of Western Australia (Court) for approval of the Scheme at a hearing scheduled at 2:15pm (AWST) on Wednesday, 23 September 2026 (Second Court Hearing).1
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If the Court approves the Scheme at the Second Court Hearing, Cygnus intends to lodge a copy of the Court orders with ASIC on the following day (Thursday, 24 September 2026), when the Scheme will become Effective. It is expected that Cygnus will be suspended from trading on the ASX from the close of trading on Thursday, 24 September 2026 and the TSXV from the close of trading on Wednesday, 23 September 2026, and the Scheme will be implemented on Monday, 5 October 2026.
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Indicative timetable
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The key dates and times for implementation of the Scheme are as follows:
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| Event | Date and time (2026)* |
| Second Court Date | 2:15pm (AWST), Wednesday, 23 September |
| Lodgement of Court orders with ASIC Effective Date | Thursday, 24 September |
| Election forms deadline | 5.00pm (AWST) / 5.00am (EDT), Thursday, 24 September |
| Record Date | 5.00pm (AWST), Monday, 28 September |
| Implementation Date | Monday, 5 October |
| New CAML Shares to commence trading on AIM | Monday, 5 October |
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