Orbis and Allan Gray Report 5.11M IMAX Shares, 9.5% Ownership

Rhea-AI Filing Summary

Schedule 13G/A filed for IMAX Corp reports that Orbis Investment Management Limited and Allan Gray Australia Pty Ltd beneficially own a combined 5,113,033 shares of IMAX common stock (CUSIP 45245E109), representing 9.5% of the class. Orbis individually holds 5,093,213 shares with sole voting and dispositive power; Allan Gray Australia holds 19,820 shares. The filing lists Orbis (Bermuda) and Allan Gray Australia (Australia) as the reporting persons.

The statement is filed under a Schedule 13G/A and includes certifications that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of IMAX. The filing is signed by Matt Gaarder as Attorney-in-Fact with signature date 08/14/2025. The event date requiring the filing is noted as 06/30/2025.

Positive

• Material disclosure of position: Aggregate stake of 5,113,033 shares (9.5%) is clearly reported
• Passive filing: Use of Schedule 13G/A and certifications state holdings are in the ordinary course of business and not intended to influence control

Negative

• None.

Insights

Financial Analyst

Orbis/Allan Gray report a 9.5% passive stake in IMAX; holdings are significant in size but filed as passive.

Orbis Investment Management Limited reports sole voting and dispositive power over 5,093,213 shares, and together with Allan Gray Australia the aggregate is 5,113,033 shares (9.5%) of IMAX. The use of Schedule 13G/A and the certification that holdings are in the ordinary course of business indicate a passive investment posture rather than an intent to influence control. For investors, the filing documents a materially large minority stake in the company but provides no indication of activist intentions or operational changes.

Corporate Governance Expert

A 9.5% disclosed stake is material; the filing classifies the holders as non-U.S. institutions filing under 13G (passive).

The filing explicitly classifies Orbis and Allan Gray as Non-U.S. Institutions equivalent to investment advisers and contains a certification that the securities "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control" of IMAX. This legal posture under Schedule 13G/A limits immediate governance implications: the reporting persons are not declaring control intent. The disclosure, however, creates public visibility of a substantial investor position.

FAQ

How many IMAX (IMAX) shares do Orbis and Allan Gray report owning?

They report an aggregate of 5,113,033 shares of IMAX common stock.

What percentage of IMAX does the reported holding represent?

The aggregate holding represents 9.5% of the class.

How many shares does Orbis Investment Management Limited individually hold?

Orbis reports sole ownership of 5,093,213 shares with sole voting and dispositive power.

Was this filing made as active or passive (Schedule 13G/A vs 13D)?

The filing is a Schedule 13G/A, and it includes certifications that the securities are held in the ordinary course of business and not to influence control.

When is the signature date on the filing and who signed it?

The filing is signed by Matt Gaarder, Attorney-in-Fact with signature date 08/14/2025.

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

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Accepted by SEC EDGAR 08/14/2025 - 12:47 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

IMAX CORP

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

45245E109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45245E109

1

Names of Reporting Persons

Orbis Investment Management Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,093,213.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,093,213.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,093,213.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.5 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. 45245E109

1

Names of Reporting Persons

Allan Gray Australia Pty Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,820.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,820.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

19,820.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: IMAX CORP
(b)	Address of issuer's principal executive offices: 2525 SPEAKMAN DRIVE, MISSISSAUGA, ONTARIO, CANADA L5K 1B1
Item 2.
(a)	Name of person filing: Orbis Investment Management Limited Allan Gray Australia Pty Ltd
(b)	Address or principal business office or, if none, residence: Orbis Investment Management Limited 25 Front Street Hamilton HM11, Bermuda Allan Gray Australia Pty Ltd Level 2, Challis House, 4 Martin Place Sydney NSW2000, Australia
(c)	Citizenship: Orbis Investment Management Limited - BERMUDA Allan Gray Australia Pty Ltd - AUSTRALIA
(d)	Title of class of securities: Common Stock, no par value
(e)	CUSIP No.: 45245E109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Equivalent to IA.
Item 4.	Ownership
(a)	Amount beneficially owned: 5,113,033
(b)	Percent of class: 9.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Orbis Investment Management Limited - 5,093,213 Allan Gray Australia Pty Ltd - 19,820
	(ii) Shared power to vote or to direct the vote: Orbis Investment Management Limited - 0 Allan Gray Australia Pty Ltd - 0
	(iii) Sole power to dispose or to direct the disposition of: Orbis Investment Management Limited - 5,093,213 Allan Gray Australia Pty Ltd - 19,820
	(iv) Shared power to dispose or to direct the disposition of: Orbis Investment Management Limited - 0 Allan Gray Australia Pty Ltd - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Other persons have the right to receive dividends from, the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of, the securities of the issuer identified in Item 4(a) that are beneficially owned by Orbis Investment Management Limited. Another person has the right to receive dividends from, the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of, the securities of the issuer identified in Item 4(a) that are beneficially owned by Allan Gray Australia Pty Ltd.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Information with respect to each of Orbis Investment Management Limited and Allan Gray Australia Pty Ltd (collectively, the "Reporting Persons") is given solely by each such Reporting Person and no Reporting Person has responsibility for the accuracy or completeness of information supplied by any other Reporting Person. Orbis Investment Management Limited and Allan Gray Australia Pty Ltd are classified as a Non-U.S. Institution (FI) that is equivalent to an Investment Adviser (IA). Notwithstanding that the Reporting Persons are making this filing together, none of the Reporting Persons represents that it is a member of a group for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. Each Reporting Person disclaims beneficial ownership of any shares beneficially owned by any other Reporting Person as specified in Item 4(a).
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Orbis Investment Management Limited and Allan Gray Australia Pty Ltd is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Orbis Investment Management Limited

Signature:	Matt Gaarder
Name/Title:	Attorney-in-Fact
Date:	08/14/2025

Allan Gray Australia Pty Ltd

Signature:	Matt Gaarder
Name/Title:	Attorney-in-Fact
Date:	08/14/2025