Franklin Resources, Inc. Reduces Stake in Platinum Group Metals Ltd to 4.0%

On April 29, 2026, Franklin Resources, Inc. (FRI) filed an amended Schedule 13G/A for Platinum Group Metals Ltd (PLG), reporting a decrease in its holdings. As of the event date on March 31, 2025, the filer beneficially owns 5,113,983 shares, representing a 4.0% stake in the company. This is a significant reduction from the previously reported 10,517,279 shares. The filing was submitted jointly with Charles B. Johnson and Rupert H. Johnson, Jr., who are principal shareholders of FRI. The shares are held by investment management subsidiaries, specifically Franklin Advisers, Inc., on behalf of various client accounts. The filing also notes an internal realignment effective March 31, 2026, where Franklin Mutual Advisers, Inc. and Brandywine Global Investment Management, LLC ceased disaggregated reporting and are now aggregated under FRI. Despite the decrease in shares, the reporting persons disclaim any pecuniary interest in the securities and maintain that they do not constitute a 'group' under SEC rules.