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Caledonia Mining Corporation Plc: Notification of Relevant Change to Significant Shareholder

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Caledonia Mining (NYSE American:CMCL; AIM:CMCL; VFEX:CMCL) reported that it received a TR-1 notification on 14 July 2026 from BlackRock that a relevant threshold under AIM Rules was crossed on 13 July 2026.

According to Caledonia, BlackRock’s resulting position is 6.22% of total voting rights in Caledonia, representing 1,203,763 voting rights. This comprises 4.92% (952,194 voting rights) attached to shares and 1.30% held via financial instruments, including securities lending and cash‑settled contracts for difference.

The previous notified position was 6.17%, with 5.25% through shares and 0.91% via financial instruments. The notification also lists the BlackRock group entities through which these holdings are controlled and confirms Caledonia as a non‑UK issuer for DTR5 purposes.

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Positive

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Negative

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News Market Reaction – CMCL

+1.70%
+1.70% Session close to close

In the Jul 15 session, CMCL gained 1.70%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This BlackRock holdings update comes as Caledonia has repeatedly reported TR-1 changes without a con...
Analysis

This BlackRock holdings update comes as Caledonia has repeatedly reported TR-1 changes without a consistent price pattern and with short interest described as low.

Key Figures

Total voting rights percentage: 6.22% Total voting rights count: 1,203,763 Voting rights via shares: 4.92% +5 more
8 metrics
Total voting rights percentage 6.22% BlackRock resulting position on threshold crossing date
Total voting rights count 1,203,763 BlackRock resulting position in Caledonia
Voting rights via shares 4.92% Resulting situation attached to shares
Voting rights via financial instruments 1.30% Resulting situation through financial instruments
Previous total voting rights 6.17% BlackRock position in previous notification
Voting rights attached to shares 952,194 Number of voting rights via JE00BF0XVB15 shares
Securities lending voting rights 173,959 Financial instruments via securities lending
CFD voting rights 77,610 Financial instruments via cash-settled CFDs

Historical Context

5 past events · Latest: Jul 10 (Neutral)
Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Jul 10 shareholder holdings update Neutral -6.5% BlackRock reported a 6.17% total voting interest after crossing a disclosure threshold.
Jul 09 shareholder holdings update Neutral +3.9% BlackRock notified a relevant change, holding 1,189,231 total voting rights in Caledonia.
Jul 08 shareholder holdings update Neutral -3.3% BlackRock crossed a disclosure threshold, reaching 6.14% of total voting rights.
Jul 01 shareholder holdings update Neutral +0.8% BlackRock reported 6.12% total voting rights after a June 26 threshold change.
Jun 15 ESG report publication Positive +4.0% Company released its 2025 ESG Report highlighting integration of ESG into strategy.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent significant-shareholder disclosures have produced mixed reactions, with both sizeable gains and declines following similar TR-1 notifications.

Key Terms

securities lending, cfd, non-uk issuer, financial instruments
4 terms
securities lending financial
"Securities Lending | N/A | N/A | 173,959 | 0.89%"
Securities lending is when an owner of stocks or bonds temporarily loans them to another party, usually so the borrower can sell them short or meet settlement needs; the lender receives a fee and typically some form of security in return. Investors should care because lending can generate extra income on holdings and affects market liquidity and short-selling activity, much like renting out a spare room brings income while someone else uses the space.
View in glossary
cfd financial
"CFD | N/A | N/A | Cash | 77,610 | 0.40%"
A CFD (contract for difference) is a financial agreement that lets an investor profit from the change in an asset’s price without actually owning that asset — like betting on a car’s value rising or falling without buying the car. It matters because CFDs use leverage, which can amplify gains and losses and allow easy access to different markets, so they change an investor’s potential return and risk profile and can lead to rapid losses if prices move unfavorably.
non-uk issuer regulatory
"Please indicate if the issuer is a non-UK issuer"
A non-UK issuer is a company or other entity that issues securities but is based, incorporated, or primarily regulated outside the United Kingdom. For investors, this matters because such issuers often follow different reporting rules, legal protections and market practices than UK-based issuers, so buying their securities can be like shopping in a different country: you may face different information, oversight, tax treatment and claim rights if things go wrong.
financial instruments financial
"An acquisition or disposal of financial instruments"
Financial instruments are assets or contracts that hold monetary value and can be bought, sold, or traded. They serve as tools for investors to grow, protect, or transfer money, much like how a ticket or voucher can be used to access goods or services. These instruments help individuals and organizations manage financial goals and risks across different markets and economic conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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(NYSE AMERICAN:CMCL; AIM:CMCL; VFEX:CMCL)

SAINT HELIER, JE / ACCESS Newswire / July 15, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on July 14, 2026 from BlackRock, Inc. that on July 13, 2026 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies).

A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation Plc
Mark Learmonth
Camilla Horsfall


Tel: +44 1534 679 800
Tel: +44 7817 841 793

Cavendish Capital Markets Limited (Nomad and Broker)
Adrian Hadden
George Lawson


Tel: +44 207 397 1965
Tel: +44 131 220 9775

Camarco, Financial PR (UK)
Elfie Kent


Tel: +44 20 3757 4980

Curate Public Relations (Zimbabwe)
Debra Tatenda


Tel: +263 77802131

IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)
Lloyd Mlotshwa


Tel: +263 (242) 745 119/33/39

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii:

CALEDONIA MINING CORPORATION PLC

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

X

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

An event changing the breakdown of voting rights

Other (please specify) iii:

3. Details of person subject to the notification obligation iv

Name

BlackRock, Inc.

City and country of registered office (if applicable)

Wilmington, DE, USA

4. Full name of shareholder(s) (if different from 3.) v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or reached vi:

13/07/2026

6. Date on which issuer notified (DD/MM/YYYY):

14/07/2026

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments
(total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer (8.A + 8.B) vii

Resulting situation on the date on which threshold was crossed or reached

4.92%

1.30%

6.22%

1,203,763

Position of previous notification (if

applicable)

5.25%

0.91%

6.17%


8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ix

% of voting rights

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

JE00BF0XVB15

952,194

4.92%

SUBTOTAL 8. A

952,194

4.92%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration
date x

Exercise/
Conversion Period xi

Number of voting rights that may be acquired if the instrument is

exercised/converted.

% of voting rights

Securities Lending

N/A

N/A

173,959

0.89%

SUBTOTAL 8. B 1

173,959

0.89%

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration
date x

Exercise/
Conversion Period xi

Physical or cash

Settlement xii

Number of voting rights

% of voting rights

CFD

N/A

N/A

Cash

77,610

0.40%

SUBTOTAL 8.B.2

70,610

0.40%

9. Information in relation to the person subject to the notification obligation (please mark the

applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv

X

Name xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

Trident Merger, LLC

BlackRock Investment Management, LLC

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.

BlackRock Financial Management, Inc.

BlackRock Holdco 4, LLC

BlackRock Holdco 6, LLC

BlackRock Delaware Holdings Inc.

BlackRock Institutional Trust Company, National Association

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.

BlackRock Financial Management, Inc.

BlackRock Holdco 4, LLC

BlackRock Holdco 6, LLC

BlackRock Delaware Holdings Inc.

BlackRock Fund Advisors

3.450%

0.010%

3.460%

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.

BlackRock Financial Management, Inc.

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.

BlackRock Financial Management, Inc.

BlackRock International Holdings, Inc.

BlackRock Canada Holdings ULC

BlackRock Asset Management Canada Limited

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

BlackRock Holdco 2, Inc.

BlackRock Financial Management, Inc.

BlackRock Capital Holdings, Inc.

BlackRock Advisors, LLC

BlackRock, Inc.

BlackRock Saturn Subco, LLC

BlackRock Finance, Inc.

Trident Merger, LLC

BlackRock Investment Management, LLC

Amethyst Intermediate, LLC

Aperio Holdings, LLC

Aperio Group, LLC

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional information xvi

BlackRock Regulatory Threshold Reporting Team

Jana Blumenstein

020 7743 3650

Place of completion

12 Throgmorton Avenue, London, EC2N 2DL, U.K.

Date of completion

14 July 2026

Notes

i Please note this form should be read jointly with the applicable Disclosure Guidance and Transparency Rules Chapter 5 (DTR5) available on the following link: https://www.handbook.fca.org.uk/handbook/DTR/5/?view=chapter
ii Full name of the legal entity and further specification of the issuer or underlying issuer, provided it is reliable and accurate (e.g. address, LEI, domestic number identity). Indicate in the relevant section whether the issuer is a non UK issuer.
iii Other reason for the notification could be voluntary notifications, changes of attribution of the nature of the holding (e.g. expiring of financial instruments) or acting in concert.
iv This should be the full name of (a) the shareholder; (b) the natural person or legal entity acquiring, disposing of or exercising voting rights in the cases provided for in DTR5.2.1 (b) to (h); (c) all parties to the agreement referred to in DTR5.2.1 (a) or (d) the holder of financial instruments referred to in DTR5.3.1.
As the disclosure of cases of acting in concert may vary due to the specific circumstances (e.g. same or different total positions of the parties, entering or exiting of acting in concert by a single party) the standard form does not provide for a specific method how to notify cases of acting in concert.
In relation to the transactions referred to in DTR5.2.1 (b) to (h), the following list is provided as indication of the persons who should be mentioned:
- in the circumstances foreseen in DTR5.2.1 (b), the natural person or legal entity that acquires the voting rights and is entitled to exercise them under the agreement and the natural person or legal entity who is transferring temporarily for consideration the voting rights;
- in the circumstances foreseen in DTR5.2.1 (c), the natural person or legal entity holding the collateral, provided the person or entity controls the voting rights and declares its intention of exercising them, and natural person or legal entity lodging the collateral under these conditions;
- in the circumstances foreseen in DTR5.2.1 (d), the natural person or legal entity who has a life interest in shares if that person or entity is entitled to exercise the voting rights attached to the shares and the natural person or legal entity who is disposing of the voting rights when the life interest is created;
- in the circumstances foreseen in DTR5.2.1 (e), the controlling natural person or legal entity and, provided it has a notification duty at an individual level under DTR 5.1, under DTR5.2.1 (a) to (d) or under a combination of any of those situations, the controlled undertaking;
- in the circumstances foreseen in DTR5.2.1 (f), the deposit taker of the shares, if he can exercise the voting rights attached to the shares deposited with him at his discretion, and the depositor of the shares allowing the deposit taker to exercise the voting rights at his discretion;
- in the circumstances foreseen in DTR5.2.1 (g), the natural person or legal entity that controls the voting rights;
- in the circumstances foreseen in DTR5.2.1 (h), the proxy holder, if he can exercise the voting rights at his discretion, and the shareholder who has given his proxy to the proxy holder allowing the latter to exercise the voting rights at his discretion (e.g. management companies).
v Applicable in the cases provided for in DTR5.2.1 (b) to (h). This should be the full name of the shareholder who is the counterparty to the natural person or legal entity referred to DTR5.2 unless the percentage of voting rights held by the shareholder is lower than the lowest notifiable threshold for the disclosure of voting rights holdings in accordance with national practices (e.g. identification of funds managed by management companies).
vi The date on which threshold is crossed or reached should be the date on which the acquisition or disposal took place or the other reason triggered the notification obligation. For passive crossings, the date when the corporate event took effect.
vii The total number of voting rights held in the issuer shall be composed of all the shares, including depository receipts representing shares, to which voting rights are attached even if the exercise thereof is suspended.
viii If the holding has fallen below the lowest applicable threshold, please note that it might not be necessary to disclose the extent of the holding, only that the new holding is below that threshold.
ix In case of combined holdings of shares with voting rights attached "direct holding" and voting rights "indirect holding", please split the voting rights number and percentage into the direct and indirect columns - if there is no combined holdings, please leave the relevant box blank.
x Date of maturity/expiration of the financial instrument i.e. the date when right to acquire shares ends.
xi If the financial instrument has such a period - please specify this period - for example once every 3 months starting from [date].
xii In case of cash settled instruments the number and percentages of voting rights is to be presented on a delta-adjusted basis (DTR 5.3.3.A).
xiii If the person subject to the notification obligation is either controlled and/or does control another undertaking then the second option applies.
xiv The full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity has to be presented also in the cases, in which only on subsidiary level a threshold is crossed or reached and the subsidiary undertaking discloses the notification as only in this way will the markets get always the full picture of the group holdings. In case of multiple chains through which the voting rights and/or financial instruments are effectively held the chains have to be presented chain by chain by numbering each chain accordingly. Please see the below example:

Name of ultimate controlling person A (chain 1)

Name of controlled undertaking B
Name of controlled undertaking C

Name of ultimate controlling person A (chain 2)

Name of controlled undertaking B
Name of controlled undertaking D

Name of ultimate controlling person A (chain3)

Name of controlled undertaking E
Name of controlled undertaking F

xv The names of controlled undertakings through which the voting rights and/or financial instruments are effectively held have to be presented irrespectively whether the controlled undertakings cross or reach the lowest applicable threshold themselves.
xvi Example: Correction of a previous notification.

SOURCE: Caledonia Mining Corporation Plc



View the original press release on ACCESS Newswire

FAQ

What did Caledonia Mining (CMCL) announce about BlackRock’s shareholding on 15 July 2026?

Caledonia Mining announced that BlackRock notified a relevant threshold crossing in its voting rights on 13 July 2026. According to Caledonia, BlackRock now holds 6.22% of total voting rights in Caledonia, triggering a disclosure under UK Disclosure Guidance and Transparency Rules.

How many Caledonia Mining (CMCL) voting rights does BlackRock hold after the July 2026 notification?

BlackRock holds 1,203,763 voting rights in Caledonia Mining following the threshold event. According to Caledonia, this equates to 6.22% of total voting rights, combining 952,194 voting rights attached to shares with additional exposure held through financial instruments such as securities lending and CFDs.

What percentage of Caledonia Mining (CMCL) shares does BlackRock own directly versus via financial instruments?

BlackRock’s direct holding in Caledonia Mining shares represents 4.92% of voting rights. According to Caledonia, an additional 1.30% of voting rights is held through financial instruments, including 0.89% via securities lending and 0.40% through cash‑settled contracts for difference, totaling 6.22%.

How did BlackRock’s position in Caledonia Mining (CMCL) change compared with its previous notification?

BlackRock’s total voting rights in Caledonia Mining moved from 6.17% to 6.22%. According to Caledonia, the share‑based component decreased from 5.25% to 4.92%, while holdings via financial instruments increased from 0.91% to 1.30%, prompting the new disclosure.

Why did BlackRock’s holding in Caledonia Mining (CMCL) trigger a major holdings notification?

The holding triggered a notification because BlackRock crossed a relevant disclosure threshold under AIM Rules and DTR5. According to Caledonia, the change in the balance between shares and financial instruments led to a reportable 6.22% total voting rights position as of 13 July 2026.

What financial instruments does BlackRock use for its Caledonia Mining (CMCL) exposure?

BlackRock uses securities lending and cash‑settled contracts for difference to gain additional exposure to Caledonia Mining. According to Caledonia, these financial instruments account for 1.30% of total voting rights, made up of 0.89% via securities lending and 0.40% via CFDs.