Central Asia Metals PLC (AIM, TSX: CAML), the London-based diversified metals producer, has disclosed a director shareholding notification confirming that Non-Executive Director Ernest Mast acquired 59,999 ordinary shares on 27 October 2026. The acquisition arose from the implementation of CAML's all-share Scheme of Arrangement to acquire 100% of Cygnus Metals Limited, with the shares issued at £0.00 pursuant to Performance Rights held by Mast in Cygnus at the time of implementation. The notification follows a prior disclosure made on 28 October 2026 relating to the same scheme, and represents an initial notification under UK market transparency rules.

Key Points

  • Central Asia Metals PLC (AIM, TSX: CAML) — London-based copper, zinc, lead and gold producer
  • Non-Executive Director Ernest Mast received 59,999 ordinary shares of US$0.01 each via the Cygnus Metals Scheme of Arrangement on 27 October 2026
  • Shares acquired at £0.00 through conversion of Performance Rights held in Cygnus Metals Limited at scheme implementation; transaction conducted off-market
  • Investors may be watching for further integration updates following the completion of the Cygnus acquisition and the status of the Chibougamau copper-gold project in Québec

Ernest Mast's 59,999 CAML Shares Linked to Cygnus Performance Rights Conversion

The announcement states that the 59,999 ordinary shares were acquired by Ernest Mast in his capacity as a person discharging managerial responsibilities (PDMR) at Central Asia Metals. The nature of the transaction is described as an acquisition resulting from the implementation of the all-share Scheme of Arrangement through which CAML acquired 100% of Cygnus Metals Limited. The shares were issued pursuant to Performance Rights that Mast held in Cygnus at the point of scheme implementation, and the transaction was conducted outside a trading venue as an off-market arrangement. The shares carry an identification code of GB00B67KBV28.

Cygnus Metals Acquisition Adds Chibougamau Copper-Gold Project to CAML's Portfolio

The completed acquisition of Cygnus Metals Limited has added the Chibougamau copper-gold project, located in Québec, Canada, to Central Asia Metals' asset base. CAML already owns 100% of the Kounrad SX-EW copper operation in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia, giving the company a geographically diversified production and development profile across base and precious metals. The addition of a Canadian copper-gold development asset broadens CAML's exposure to copper, a metal facing structural demand growth linked to electrification and energy transition themes.

CAML's Broader Asset Base and Exploration Interests Across Four Countries

Beyond its three core assets, Central Asia Metals holds an 80% interest in CAML Exploration and a 100% stake in CAML XD, both subsidiaries established to advance early-stage exploration opportunities in Kazakhstan. The company also holds a 38.9% interest in Aberdeen Minerals Ltd, a privately-owned UK business focused on base metals exploration in northeast Scotland. This diversified structure means CAML carries jurisdiction-specific operational and regulatory risks across Kazakhstan, North Macedonia, Canada, and the United Kingdom simultaneously, which investors may consider when assessing the group's overall risk profile.