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

Rhea-AI Summary

Caledonia Mining (NYSE American/AIM/VFEX: CMCL) reported a TR-1 notification from BlackRock that on 8 July 2026 it crossed a relevant threshold under AIM Rules following an acquisition or disposal of voting rights.

According to Caledonia, BlackRock’s resulting position is 6.17% of total voting rights in Caledonia, representing 1,193,783 voting rights. This comprises 5.25% (1,016,237 voting rights) attached to ordinary shares (ISIN JE00BF0XVB15) and 0.91% through financial instruments, including 0.55% via securities lending (107,415 voting rights) and 0.36% via cash-settled CFDs (70,131 voting rights). The previous notified position was 6.15% overall (4.96% in shares and 1.18% via financial instruments). The notification lists a chain of BlackRock-controlled undertakings holding these interests and confirms Caledonia as a non-UK issuer. The notification was completed in London on 9 July 2026 and received by Caledonia on the same date.

Market reaction: CMCL -6.53% on major shareholding notification

-6.53% 1.7x vol

14 alerts

-6.53% News Effect

-$24M Valuation Impact

$345.91M Market Cap

1.7x Rel. Volume

On the day this news was published, CMCL declined 6.53%, reflecting a notable negative market reaction. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $24M from the company's valuation, bringing the market cap to $345.91M at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -6.5% in the session following this news. A sharp decline could echo the prior share...

Analysis

The stock moved -6.5% in the session following this news. A sharp decline could echo the prior shareholder-threshold notice that saw a -3.33% move, with investors reassessing institutional flows. Given modest short positioning, extended downside would more likely track changing fundamentals or ownership than a short squeeze.

Key Figures

Voting rights via shares: 5.25% Voting rights via instruments: 0.91% Total voting rights: 6.17% +5 more

8 metrics

Voting rights via shares 5.25% BlackRock resulting position on threshold crossing date

Voting rights via instruments 0.91% BlackRock resulting position on threshold crossing date

Total voting rights 6.17% BlackRock resulting position on threshold crossing date

Total voting rights count 1,193,783 BlackRock resulting position on threshold crossing date

Prior voting via shares 4.96% BlackRock previous notification

Prior voting via instruments 1.18% BlackRock previous notification

Prior total voting rights 6.15% BlackRock previous notification

Direct voting rights via shares 1,016,237 BlackRock holding of ordinary shares (ISIN JE00BF0XVB15)

Historical Context

5 past events · Latest: Jul 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 08	shareholder threshold notice	Neutral	-3.3%	BlackRock reported a small change in total voting rights to 6.14%.
Jul 01	shareholder threshold notice	Neutral	+0.8%	BlackRock disclosed a threshold change to 6.12% total voting rights.
Jun 15	ESG report publication	Positive	+4.0%	Company published its 2025 ESG report highlighting integration into strategy.
Jun 12	insider share purchase	Positive	+3.8%	Executive-linked entity bought 11,750 shares at $18.70, lifting stake to 12.70%.
Jun 12	ATM utilisation update	Positive	+3.8%	Update confirmed no securities were issued under the ATM, preserving capacity.

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

Pattern Detected

Recent single-stock news for Caledonia has more often coincided with positive next-day moves than declines.

Key Terms

securities lending, contracts for difference, non-uk issuer, financial instruments

4 terms

securities lending financial

"Securities Lending | N/A | N/A | 107,415 | 0.55%"

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

contracts for difference financial

"Number of voting rights | % of voting rights CFD | N/A | N/A | Cash"

A contract for difference is an agreement between a trader and a broker to exchange the change in an asset’s price between the time the position is opened and closed, letting the trader profit from price moves without owning the underlying asset. Because CFDs let investors control a larger position with a small upfront margin—like using a lever to move a heavy object—they can amplify both gains and losses, increase the chance of margin calls, and add trading costs that affect returns.

non-uk issuer regulatory

"Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) Non-UK issuer | X"

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 An event changing the breakdown of voting rights"

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 10, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on July 9, 2026 from BlackRock, Inc. that on July 8, 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:			08/07/2026
6. Date on which issuer notified (DD/MM/YYYY):			09/07/2026
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	5.25%	0.91%		6.17%	1,193,783
Position of previous notification (if applicable)	4.96%	1.18%		6.15%

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				1,016,237					5.25%
SUBTOTAL 8. A		1,016,237					5.25%
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			107,415			0.55%
			SUBTOTAL 8. B 1			107,415			0.55%
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			70,131	0.36%
					SUBTOTAL 8.B.2			70,131	0.36%

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	3.430%	0.010%	3.450%
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	09 July 2026

SOURCE: Caledonia Mining Corporation Plc

View the original press release on ACCESS Newswire

FAQ

What change did BlackRock report in its shareholding of Caledonia Mining (CMCL) in July 2026?

BlackRock reported a small change in its overall voting interest in Caledonia Mining to 6.17%. According to Caledonia, this followed an acquisition or disposal of voting rights, moving from a previously notified total of 6.15% on the company’s share register.

How many Caledonia Mining (CMCL) voting rights does BlackRock hold after the July 8, 2026 threshold event?

BlackRock holds 1,193,783 voting rights in Caledonia Mining after the July 8, 2026 event. According to Caledonia, this equals 6.17% of total voting rights, combining direct shareholdings and positions held through specified financial instruments.

What is the breakdown of BlackRock’s 6.17% voting interest in Caledonia Mining (CMCL)?

BlackRock’s 6.17% interest consists of 5.25% via ordinary shares and 0.91% via financial instruments. According to Caledonia, the financial instruments include 0.55% from securities lending and 0.36% from cash-settled CFDs linked to Caledonia shares.

When did BlackRock cross the notification threshold in Caledonia Mining (CMCL), and when was Caledonia informed?

BlackRock crossed the relevant notification threshold on 8 July 2026 and notified Caledonia on 9 July 2026. According to Caledonia, this timing triggered a TR-1 major holdings disclosure under applicable AIM and FCA reporting requirements.

Why did Caledonia Mining (CMCL) announce a TR-1 notification regarding BlackRock in July 2026?

Caledonia announced the TR-1 notification because BlackRock’s holding crossed a reportable threshold for major holdings. According to Caledonia, AIM Rules and FCA regulations require disclosure when significant shareholders change their percentage of voting rights in the issuer.

How much of Caledonia Mining (CMCL) does BlackRock hold directly through shares versus derivatives?

BlackRock holds 1,016,237 Caledonia shares, representing 5.25% of voting rights, and additional exposure via derivatives. According to Caledonia, derivatives include securities lending and cash-settled CFDs totaling 177,546 voting rights, or 0.91% of total voting rights.