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

BlackRock trims its overall holding in Caledonia Mining to 6.98% and discloses the updated mix of direct shares and derivative exposure.

Rhea-AI Summary

Caledonia Mining (CMCL) reports that BlackRock, Inc. crossed a major shareholding notification threshold on 18 September 2026, with the company notified on 21 September 2026.

BlackRock now holds a total of 6.98% of Caledonia’s voting rights, representing 1,350,254 voting rights in aggregate. This is composed of 4.90% (948,042 voting rights) attached to shares and 2.08% held via financial instruments. The previous disclosed position was 7.10% in total, with 5.11% via shares and 1.99% via instruments.

Within the financial instruments, BlackRock has exposure through securities lending over 181,758 voting rights (0.94%) and CFDs over 220,454 voting rights (1.14%). The notification classifies Caledonia as a non‑UK issuer and details the BlackRock group entities through which the interests are held.

Market Context

At publication, CMCL was 0.12% higher pre-headline while peers were mixed; the notification disclose...

Analysis

At publication, CMCL was 0.12% higher pre-headline while peers were mixed; the notification disclosed a change in BlackRock’s voting position, making the filing company-specific rather than part of a coordinated peer move.

Key Figures

Total voting position: 6.98% Voting rights held: 1,350,254 voting rights Voting rights attached to shares: 4.90% +5 more

Total voting position

6.98%

Resulting BlackRock position

Voting rights held

1,350,254 voting rights

Resulting BlackRock position

Voting rights attached to shares

4.90%

Resulting BlackRock position

Financial instruments position

2.08%

Resulting BlackRock position

Previous total position

7.10%

Position in previous notification

Threshold crossing date

18/09/2026

Date threshold was crossed

Notification date

21/09/2026

Date issuer was notified

Cash-settled CFD position

220,454 voting rights

1.14% of voting rights

Key Terms

aim rules for companies, voting rights, securities lending, cfd

4 terms

aim rules for companies regulatory

"crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies)"

AIM rules for companies are the set of listing and ongoing obligations that firms must follow to trade on the AIM market, a venue for smaller or growing companies. They matter to investors because the rules require regular financial updates, disclosure of major events and standards of conduct—like a rulebook that helps ensure companies behave predictably and share the information investors need to judge risk and value.

voting rights regulatory

"An acquisition or disposal of voting rights"

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.

securities lending financial

"Securities Lending | N/A | N/A | 181,758 | 0.94%"

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 | 220,454 | 1.14%"

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.

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

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SAINT HELIER, JE / ACCESS Newswire / September 22, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on September 21, 2026 from BlackRock, Inc. that on September 18, 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 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:			18/09/2026
6. Date on which issuer notified (DD/MM/YYYY):			21/09/2026
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	4.90%	2.08%		6.98%	1,350,254
Position of previous notification (if applicable)	5.11%	1.99%		7.10%

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				948,042					4.90%
SUBTOTAL 8. A		948,042					4.90%
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			181,758			0.94%
			SUBTOTAL 8. B 1			181,758			0.94%
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			220,454	1.14%
					SUBTOTAL 8.B.2			220,454	1.14%

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 International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Investment Management (UK) Limited
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	3.280%	0.010%	3.290%
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	21 September 2026

SOURCE: Caledonia Mining Corporation Plc

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How are BlackRock’s 2.08% voting rights held through financial instruments in Caledonia Mining structured?

BlackRock’s 2.08% voting rights through financial instruments are split between securities lending, covering 181,758 voting rights or 0.94% of voting rights, and cash-settled CFDs, covering 220,454 voting rights or 1.14%. Together these instruments account for 402,212 voting rights and form the non-share portion of BlackRock’s 6.98% total position.