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Cygnus Metals Says Central Asia Metals Takeover Remains on Track

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Cygnus Metals (ASX:CY5) said its proposed acquisition by Central Asia Metals (CAML) remains on track, with shareholders set to vote on the scheme of arrangement at a meeting in Perth on Friday, according to an Australian bourse filing on Monday after market hours.

Key approvals, including North Macedonian merger clearance and CAML shareholder approval, have been obtained, while the Toronto Stock Exchange has granted conditional approval for the listing of CAML shares, per the filing.

The main outstanding condition is Kazakhstan regulatory approval, which is now expected by Oct. 1 and, if not received by Sept. 23, may require a delay in the court approval process, the filing said.

The company directors continue to unanimously recommend that shareholders vote in favor of the deal, provided no superior proposal emerges and the independent expert maintains its favorable assessment, the filing added.

What else is happening in Asia?

Asia

Orora Chief Safety, Sustainability, Governance Officer to Step Down at End of Year

Orora (ASX:ORA) said Ann Stubbings plans to step down as chief safety, sustainability, and governance officer, effective Dec. 31, after more than 13 years with the packaging products firm, according to a Monday filing with the Australian bourse.In addition, Susannah Jobling Hodgens will be appointed as chief legal officer, the company said. Hodgens has worked with Orora for 13 years in senior legal and governance roles, most recently as general counsel and alternate company secretary.Orora shares gained nearly 1% in recent Monday trade.

ASX:ORA
Asia

Biokin Pharma Enrolls First Patient in Phase Three Trial for Breast Cancer Drug; Shares Up 4%

Sichuan Biokin Pharmaceutical (SHA:688506) enrolled the first subject for the third-phase clinical trial of biologic drug T-Bren for injection, according to a weekend filing with the Shanghai bourse.The trial evaluates T-Bren combined with pertuzumab versus standard chemotherapy in neoadjuvant treatment of HER2-positive breast cancer, according to a weekend filing with the Shanghai bourse.Shares of the pharmaceutical company rose 4% in recent trade.

SHA:688506
Asia

Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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