Notification of Relevant Change to Significant Shareholder

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

Caledonia Mining (NYSE American: CMCL) reported a notification of major holdings from BlackRock after a threshold change on June 26, 2026.

BlackRock now holds 4.83% of voting rights attached to shares and additional exposure via securities lending (0.93%) and CFDs (0.34%), totaling 1,184,010 voting rights.

AI-generated analysis. Not financial advice.

Key Figures

Total voting interest: 6.12% Voting rights held: 1,184,010 Direct share voting rights: 4.83% +5 more

8 metrics

Total voting interest 6.12% BlackRock’s total voting rights in CMCL on 26/06/2026

Voting rights held 1,184,010 Total number of CMCL voting rights held by BlackRock

Direct share voting rights 4.83% Voting rights attached to CMCL shares (DTR5.2.1) on 26/06/2026

Financial instruments voting rights 1.28% Voting rights via financial instruments on 26/06/2026

Prior total voting interest 5.98% BlackRock’s total CMCL voting rights before latest threshold crossing

Shares via securities lending 181,500 CMCL voting rights that may be acquired via securities lending

CFD voting rights 66,957 CMCL voting rights linked to CFD positions

Indirect share voting rights 935,553 Indirect CMCL voting rights attached to shares (4.83%)

Peers on Argus

CMCL was down about 1.7% while key gold peers were mixed, with names like GAU sl...

CMCL was down about 1.7% while key gold peers were mixed, with names like GAU slightly negative and ODV, IAUX, DC positive, indicating a stock‑specific move rather than a broad sector shift.

Historical Context

5 past events · Latest: Jun 15 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jun 15	ESG report publication	Positive	+4.0%	Release of 2025 ESG report highlighting strategy and community ownership.
Jun 12	Insider share purchase	Positive	+3.8%	Largest shareholder linked to director increased stake via open‑market buying.
Jun 12	ATM update	Positive	+3.8%	Disclosure that no securities were issued under existing ATM capacity.
Jun 10	Exploration results	Positive	-1.3%	Motapa drilling showed strong gold mineralisation and high‑grade intersections.
May 22	Technical report refiling	Neutral	-1.3%	Refiling Bilboes NI 43‑101 to comply with Canadian disclosure rules.

Pattern Detected

Recent CMCL news has more often been followed by positive price reactions, though exploration and technical updates have occasionally seen negative divergence.

Regulatory & Risk Context

Short Interest: 9.5%

Short Interest

9.5% of float

0% 15% 30%+

low as of 2026-06-15 Days to cover: 5.86

Reported short interest appears relatively low, suggesting more moderate squeeze potential and a lower likelihood of extreme volatility solely from short covering.

Market Pulse Summary

This announcement highlights BlackRock increasing its total voting interest in Caledonia to 6.12%, s...

Analysis

This announcement highlights BlackRock increasing its total voting interest in Caledonia to 6.12%, signalling a notifiable change in a major holder. Combined with recent insider net buying, investors may watch for further institutional ownership shifts and governance signals.

Key Terms

voting rights, financial instruments, securities lending, cfd

4 terms

voting rights regulatory

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

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 regulatory

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

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

"Type of financial instrument | Expiration date x | ... | Securities Lending"

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.

cfd financial

"Type of financial instrument | ... | Physical or cash Settlement xii | Number of voting rights | CFD"

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. Not financial advice.

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07/01/2026 - 11:00 AM

(NYSE American:CMCL)(AIM:CMCL)(VFEX:CMCL)

SAINT HELIER, JE / ACCESS Newswire / July 1, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on June 29, 2026 from BlackRock, Inc. that on June 26, 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	Tel: +44 207 397 1965
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:			26/06/2026
6. Date on which issuer notified (DD/MM/YYYY):			29/06/2026
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	4.83%	1.28%		6.12%	1,184,010
Position of previous notification (if applicable)	4.79%	1.18%		5.98%

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				935,553					4.83%


SUBTOTAL 8. A		935,553					4.83%

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			181,500			0.93%


			SUBTOTAL 8. B 1			181,500			0.93%

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			66,957	0.34%


					SUBTOTAL 8.B.2			66,957	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	3.390%	0.010%	3.410%

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	29 June 2026

SOURCE: Caledonia Mining Corporation Plc

View the original press release on ACCESS Newswire

FAQ

What change in BlackRock's shareholding in Caledonia Mining (CMCL) was disclosed on July 1, 2026?

BlackRock disclosed an increased reportable holding in Caledonia Mining on July 1, 2026. According to Caledonia, BlackRock holds 4.83% of voting rights attached to shares plus positions via financial instruments, for 1,184,010 voting rights in total.

What percentage of Caledonia Mining (CMCL) voting rights does BlackRock hold after the June 26, 2026 threshold crossing?

BlackRock holds 4.83% of Caledonia Mining voting rights via shares after the threshold event. According to Caledonia, BlackRock also has 0.93% via securities lending and 0.34% via CFDs, giving exposure to 1,184,010 voting rights overall.

On what date did BlackRock cross a disclosure threshold in Caledonia Mining (CMCL) shares?

BlackRock crossed a disclosure threshold in Caledonia Mining on June 26, 2026. According to Caledonia, the company was notified on June 29, 2026, triggering a TR-1 major holdings announcement under applicable UK disclosure rules.

How is BlackRock's Caledonia Mining (CMCL) holding split between shares and derivatives?

BlackRock’s Caledonia Mining exposure is split between shares and derivatives. According to Caledonia, it holds 935,553 voting rights via shares, 181,500 via securities lending, and 66,957 via cash-settled CFDs, corresponding to 4.83%, 0.93% and 0.34% respectively.

Who is the notifying shareholder in the Caledonia Mining (CMCL) TR-1 major holdings filing?

The notifying shareholder in the TR-1 filing is BlackRock, Inc. According to Caledonia, BlackRock, based in Wilmington, Delaware, filed the notification after an acquisition or disposal of voting rights in Caledonia Mining shares and related financial instruments.