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

(Moderate)

(Neutral)

Rhea-AI Summary

Caledonia Mining (NYSE American: CMCL) reported a relevant change in a significant shareholder after receiving a TR-1 notification from BlackRock dated July 8, 2026.

According to Caledonia, BlackRock now holds 1,189,231 voting rights in total, split between shares and financial instruments.

Market reaction after shareholder ownership update: CMCL +3.94% in the Jul 9 session

+3.94% 1.9x vol

12 alerts

+3.94% Session close to close

-7.9% Trough in 26 hr 46 min

$365.21M Market Cap

1.9x Rel. Volume

In the Jul 9 session, CMCL gained 3.94%, reflecting a moderate positive market reaction. Argus tracked a trough of -7.9% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Caledonia highlighted BlackRock’s latest TR‑1, showing 6.15% total voting rights via shares and inst...

Analysis

Caledonia highlighted BlackRock’s latest TR‑1, showing 6.15% total voting rights via shares and instruments. Earlier shareholder and insider updates often coincided with modest gains, while currently low reported short interest and recent net insider buying remain key background factors.

Key Figures

Voting rights attached to shares: 4.96% Voting rights via instruments: 1.18% Total voting rights percentage: 6.15% +5 more

8 metrics

Voting rights attached to shares 4.96% Resulting position on July 7, 2026

Voting rights via instruments 1.18% Resulting position on July 7, 2026

Total voting rights percentage 6.15% Resulting position on July 7, 2026

Total voting rights held 1,189,231 Resulting position on July 7, 2026

Previous voting rights attached to shares 5.20% Position of previous notification

Previous total voting rights percentage 6.14% Position of previous notification

Securities lending voting rights 162,115 (0.83%) Financial instruments per TR-1 notification

CFD voting rights 67,313 (0.34%) Cash‑settled CFD exposure per TR-1

Historical Context

5 past events · Latest: Jul 01 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 01	shareholder threshold notice	Neutral	+0.8%	BlackRock reported a prior change in major shareholding and voting rights exposure.
Jun 15	esg report release	Neutral	+4.0%	Company published its 2025 ESG report highlighting risk and capital integration.
Jun 12	insider share purchase	Positive	+3.8%	Executive‑linked entity bought additional shares, lifting reported ownership stake.
Jun 12	atm utilisation update	Positive	+3.8%	ATM update confirmed no securities issued and full capacity remaining unused.
Jun 10	exploration results	Positive	-1.3%	Motapa drilling showed multi‑kilometre mineralisation with high‑grade intersections.

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

Pattern Detected

Recent Caledonia disclosures, including ESG and shareholder/insider updates, have mostly seen modestly positive price alignment, with Motapa exploration news the lone negative reaction.

Key Terms

voting rights, financial instruments, securities lending, cfd, +1 more

5 terms

voting rights financial

"Total positions of person(s) subject to the notification obligation % of voting rights attached"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

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.

securities lending financial

"Securities Lending | N/A | N/A | 162,115 | 0.83%"

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 | 67,313 | 0.34%"

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 (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.

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

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07/09/2026 - 02:00 AM

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

SAINT HELIER, JE / ACCESS Newswire / July 9, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on July 8, 2026 from BlackRock, Inc. that on July 7, 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:			07/07/2026
6. Date on which issuer notified (DD/MM/YYYY):			08/07/2026
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	4.96%	1.18%		6.15%	1,189,231
Position of previous notification (if applicable)	5.20%	0.94%		6.14%

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				959,803					4.96%


SUBTOTAL 8. A		959,803					4.96%

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			162,115			0.83%


			SUBTOTAL 8. B 1			162,115			0.83%

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			67,313	0.34%


					SUBTOTAL 8.B.2			67,313	0.34%

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	3.420%	0.010%	3.430%

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	08 July 2026

SOURCE: Caledonia Mining Corporation Plc

View the original press release on ACCESS Newswire

FAQ

What change did BlackRock report in its holding of Caledonia Mining (CMCL) on July 7, 2026?

BlackRock reported a change in its holding that triggered a TR-1 major holdings notification. According to Caledonia, the resulting position comprises voting rights through ordinary shares and financial instruments as of July 7, 2026, requiring disclosure under UK rules.

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

BlackRock holds 1,189,231 voting rights in Caledonia Mining following the July 2026 threshold crossing. According to Caledonia, this total comes from 959,803 voting rights attached to shares plus additional rights from securities lending and cash-settled CFD positions.

What percentage of Caledonia Mining (CMCL) does BlackRock hold through ordinary shares and instruments?

BlackRock holds 4.96% of Caledonia’s voting rights via ordinary shares. According to Caledonia, further exposure arises from securities lending representing 0.83% and cash-settled CFDs representing 0.34% of voting rights, all contributing to BlackRock’s overall reported interest.

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

Caledonia issued the TR-1 notification because BlackRock crossed a reportable threshold in voting rights. According to Caledonia, the change on July 7, 2026 met disclosure requirements for major holdings under AIM Rules and UK Financial Conduct Authority regulations.

When did BlackRock cross the reportable threshold in Caledonia Mining (CMCL) shares and how quickly was it reported?

BlackRock crossed the reportable threshold on July 7, 2026 and notified Caledonia on July 8, 2026. According to Caledonia, this triggered the public TR-1 disclosure on July 9, 2026, outlining BlackRock’s updated voting rights position.

How is BlackRock’s Caledonia Mining (CMCL) holding structured between direct and indirect ownership?

BlackRock’s holding is structured through a chain of controlled undertakings within the BlackRock group. According to Caledonia, entities such as BlackRock Fund Advisors and BlackRock Institutional Trust Company, National Association, hold voting rights and financial instruments on behalf of BlackRock.