BlackRock trims Caledonia Mining (CMCL) stake to 6.56% of voting rights

Rhea-AI Filing Summary

Caledonia Mining Corporation Plc reported a change in a major shareholding after receiving a notification from BlackRock, Inc. BlackRock’s total interest now represents 6.56% of Caledonia’s voting rights, made up of 4.93% from shares and 1.63% from financial instruments, corresponding to 1,268,587 voting rights.

The direct shareholding covers 953,218 voting rights (4.93%). Additional exposure comes from securities lending over 173,566 voting rights (0.89%) and cash‑settled CFDs over 141,803 voting rights (0.73%). Previously, BlackRock’s total position had been notified at 6.57%, so this filing reflects a small adjustment while remaining above the major shareholding reporting threshold.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Of the Securities Exchange Act of 1934

For the month of March 2026
Commission File Number: 001-38164

CALEDONIA MINING CORPORATION PLC
(Translation of registrant's name into English)

2 Mulcaster Street
St Helier
Jersey JE2 3NJ
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒      Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		CALEDONIA MINING CORPORATION PLC
		(Registrant)
Date: March 27, 2026		/s/ JOHN MARK LEARMONTH
		John Mark Learmonth
		CEO and Director

2

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated March 27, 2026

3

Exhibit 99.1

Caledonia Mining Corporation Plc

Notification of relevant change to significant shareholder

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

March 27, 2026 Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on March 26, 2026 from BlackRock, Inc. that on March 25, 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) Gordon Poole 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

Head and Registered Office: Caledonia Mining Corporation Plc

2 Mulcaster Street, St Helier, Jersey, Channel Islands, JE2 3NJ

info@caledoniamining.com | | www.caledoniamining.com

1

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:			25/03/2026
6. Date on which issuer notified (DD/MM/YYYY):			26/03/2026
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	4.93%	1.63%		6.56%	1,268,587
Position of previous notification (if applicable)	5.05%	1.52%		6.57%

2

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				953,218					4.93%
SUBTOTAL 8. A		953,218					4.93%
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			173.566			0.89%
			SUBTOTAL 8. B 1			173,566			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			141.803	0.73%
					SUBTOTAL 8.B.2			141,803	0.73%

3

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.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Lux Finco S.a.r.l.
BlackRock Japan Holdings GK
BlackRock Japan Co., Ltd.
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
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

4

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	26 March 2026

5

FAQ

What change in major shareholding did Caledonia Mining (CMCL) disclose?

Caledonia Mining disclosed that BlackRock, Inc. adjusted its holding to a total of 6.56% of voting rights. This reflects a small change from a previous 6.57% position but remains above the major shareholding notification threshold for the company’s shares.

How much of Caledonia Mining (CMCL) does BlackRock now hold through shares and instruments?

BlackRock now holds 4.93% of Caledonia’s voting rights through shares and 1.63% via financial instruments, totaling 6.56%. In absolute terms, this represents 1,268,587 voting rights attached to Caledonia Mining Corporation Plc as of the reported threshold crossing.

What is the breakdown of BlackRock’s financial instrument exposure to Caledonia Mining (CMCL)?

BlackRock’s financial instrument exposure includes securities lending over 173,566 voting rights (0.89%) and cash‑settled CFDs over 141,803 voting rights (0.73%). Combined with its shareholding, these positions bring BlackRock’s total interest in Caledonia to 6.56% of voting rights.

On what date did BlackRock cross the reportable threshold in Caledonia Mining (CMCL)?

BlackRock crossed the relevant threshold in Caledonia Mining on 25 March 2026. Caledonia received the notification on 26 March 2026, and the company subsequently released this information, including the detailed TR‑1 major holdings form, to the market.

How did BlackRock’s previous holding in Caledonia Mining (CMCL) compare to the new position?

Previously, BlackRock had notified a total holding of 6.57% of voting rights, comprising 5.05% through shares and 1.52% through financial instruments. The new notification shows a slightly lower share percentage and higher instrument percentage, for a total of 6.56%.

Who is the significant shareholder involved in Caledonia Mining’s (CMCL) March 2026 notification?

The significant shareholder is BlackRock, Inc., registered in Wilmington, Delaware, USA. BlackRock reported its aggregated direct and indirect voting rights in Caledonia Mining, including exposure via securities lending and CFDs, triggering a major holdings notification under applicable disclosure rules.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE DATED MARCH 27, 2026 89.2 KB