BlackRock Ceases to Be Substantial Shareholder in West African Resources Following 6 November Collateral Transfer

Sonal Goyal

10 November 2026 12:56 PM AEDT

BlackRock Ceases to Be Substantial Shareholder in West African Resources Following 6 November Collateral Transfer

Image Source: Krish Capital Pty Ltd

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West African Resources (ASX:WAF) has received a Form 605 Notice of ceasing to be a substantial shareholder from BlackRock, Inc. and its associated entities, with the notice dated 10 November 2026 and disclosing a series of transactions across multiple BlackRock entities between 3 November and 6 November 2026.

Key Points

BlackRock filed a Form 605 Notice of ceasing to be a substantial shareholder in West African Resources, dated 10 November 2026.
Transactions across multiple BlackRock entities occurred on 3, 4, 5, and 6 November 2026, involving on-market buys, on-market sells, in specie transfers, and collateral transfers.
A collateral transfer of -2,367,084 ordinary shares was recorded on 6 November 2026 by BlackRock Advisors (UK) Limited.
Securities lending agreements are in place between BlackRock Advisors Limited and multiple counterparties under Global Master Securities Lending Agreements.

Transaction Details Across BlackRock Entities

The filing discloses changes in relevant interests across multiple BlackRock entities over four trading days. On 3 November 2026, transactions included an on-market buy of 10,720 ordinary shares at AUD 3.26 per share by BlackRock Capital Management, Inc., an on-market sell of 5,699 shares at AUD 3.22 by BlackRock Advisors (UK) Limited, and a collateral transfer of 1,472,653 shares by BlackRock Advisors (UK) Limited. BlackRock Investment Management (UK) Limited recorded a collateral transfer of -798,962 shares on the same date. In specie transfers involving BlackRock Fund Advisors and BlackRock Institutional Trust Company, National Association were also recorded on 3 November 2026.

Further Transactions on 4, 5 and 6 November 2026

On 4 November 2026, BlackRock Investment Management (Australia) Limited made multiple on-market purchases at prices of AUD 3.16 and AUD 3.18 per share. BlackRock Advisors (UK) Limited conducted on-market buys and sells on the same date, with an on-market sell of 34,194 shares at AUD 3.16. On 5 November 2026, on-market buys were recorded at AUD 3.55 by BlackRock Investment Management (Australia) Limited and BlackRock Capital Management, Inc. On 6 November 2026, on-market purchases were recorded at AUD 3.44 and AUD 3.45, and BlackRock Advisors (UK) Limited recorded a collateral transfer of -2,367,084 shares, the largest single transaction disclosed in the filing.

Securities Lending Agreements and Voting Rights

The filing discloses that collateral transfers relate to Global Master Securities Lending Agreements, Overseas Securities Lending Agreements, or Master Securities Lending Agreements. Voting rights over collateral securities are held by the borrower, and the filing states that the triparty collateral manager will not act in respect of voting rights unless it receives instructions from the borrower. The borrower is entitled to substitute existing collateral with other equities at any time, the lender may recall securities at notice, and securities will be returned on settlement. Agreements are in place between BlackRock Advisors Limited and multiple counterparties including major global financial institutions. The filing was authorised by Emma Okoniewski as Authorised Signatory.

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