Caledonia Mining (NYSE: CMCL) director July Ndlovu reports indirect share ownership

Rhea-AI Filing Summary

Caledonia Mining Corp Plc director July Ndlovu has filed an initial ownership report showing indirect holdings of the company’s common shares. The filing lists 204,216 common shares held indirectly and notes that Ndlovu is a 36% shareholder in Fremiro Investments (Private) Limited, which itself holds 567,266 Caledonia shares. This Form 3 does not report any new purchase or sale activity; it establishes Ndlovu’s existing beneficial ownership position through an associated entity.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Ndlovu July

(Last) (First) (Middle)

C/O CALEDONIA MINING CORP PLC

2 MULCASTER STREET

(Street)

ST. HELIER JE2 3NJ

(City) (State) (Zip)

JERSEY

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Caledonia Mining Corp Plc [ CMCL ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common shares	204,216	I	36% shareholder in Fremiro Investments (Private) Limited which holds 567,266 shares

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Signed by the undersigned as attorney‑in‑fact pursuant to a valid Power of Attorney.

	/s/ July Ndlovu By Susan Yu, Attorney-in-fact	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does July Ndlovu’s Form 3 filing for Caledonia Mining (CMCL) show?

The Form 3 shows July Ndlovu’s existing indirect ownership in Caledonia Mining common shares. It reports 204,216 shares held indirectly and notes his 36% stake in Fremiro Investments, which itself holds 567,266 Caledonia shares, establishing his beneficial ownership position.

Did July Ndlovu buy or sell Caledonia Mining (CMCL) shares in this Form 3?

No new buy or sell transactions are reported in this Form 3. The filing is an initial statement of beneficial ownership, listing Ndlovu’s existing indirect holdings rather than recording a new trade or option exercise in Caledonia Mining shares.

How many Caledonia Mining (CMCL) shares does July Ndlovu indirectly hold?

The filing lists 204,216 Caledonia Mining common shares as indirectly held by July Ndlovu. It also discloses that he owns 36% of Fremiro Investments (Private) Limited, an entity that separately holds 567,266 Caledonia Mining shares, indicating additional indirect economic exposure.

What is Fremiro Investments’ role in July Ndlovu’s Caledonia Mining (CMCL) holdings?

Fremiro Investments (Private) Limited is identified as an entity connected to Ndlovu’s indirect ownership. The Form 3 notes he is a 36% shareholder in Fremiro, which holds 567,266 Caledonia Mining shares, linking part of his beneficial interest to that company’s share position.

Why is a Form 3 important for Caledonia Mining (CMCL) investors?

Form 3 provides transparency on an insider’s initial beneficial ownership in Caledonia Mining. By disclosing indirect holdings and relationships like Fremiro Investments, it clarifies how many shares a director is economically exposed to, helping investors understand insider stake levels and alignment.