Central Asia Metals plc (CAMLF) M&A Call Transcript

Operator

Good afternoon, and welcome to the Central Asia Metals plc Investor Presentation. [Operator Instructions] The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where it’s appropriate to do so.

Before we begin, I’d like to submit the following poll. I’d now like to hand you over to the management team. Gavin, good afternoon, sir.

Gavin Ferrar
CEO & Director

Good afternoon, and welcome to everybody, and thank you for joining us for what is a significant announcement by Central Asia Metals. I’d like to draw your attention to the disclaimers in this presentation. There’s 4 entire pages of it, mainly because we don’t want any of you getting into trouble. I do take the time to have a quick scan of those, please.

And not going to do that now. We’ll jump straight into the presentation, which we’re very happy to announce that the Boards of CAML and Cygnus Metals agreed to enter into a transaction whereby CAML will acquire the entire issued share capital of Cygnus Metals via a scheme of arrangement in Australia. The value received by Cygnus shareholders will be AUD 232 million, and the share price paid is AUD 0.176.

This means that the pro forma ownership of the company moving forward will be 70% CAML and 30% Cygnus. Cygnus Metals owns the highly prospective and high-grade Chibougamau project in Quebec. And the transaction will be subject to shareholder votes on part of Cygnus shareholders who need to achieve 75% of the votes in favor and