Cygnus shareholders approve Central Asia Metals acquisition scheme

Cygnus Metals shareholders approved the scheme under which Central Asia Metals ($CAML) would acquire all of the company’s shares. Support represented 98.35% of votes cast, and the separate minority-approval requirement was also satisfied. The result advances the previously agreed combination rather than changing its commercial terms.

The companies are targeting a court hearing on September 23 and implementation on October 5, but that timetable remains conditional. Kazakhstan regulatory approval is still outstanding and could affect the court schedule. Consequently, the favorable shareholder vote should not be read as confirmation that the acquisition has closed. The listed exposure in the supplied universe is Central Asia Metals on London’s AIM market; Cygnus is the target company described in the announcement.

Sources:

• Cygnus Metals — scheme vote results and remaining conditions, GlobeNewswire