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Saba Capital Management, L.P., the largest common shareholder of ASA Gold and Precious Metals , announced the election of Ketu Desai and Paul Kazarian to ASA's Board of Directors at the 2024 Annual Meeting. Shareholders voted to elect these nominees due to the Fund's poor performance and governance failures. Saba aims to enhance shareholder value and address the Fund's discount to Net Asset Value (NAV).
Saba Capital Management, L.P., il maggiore azionista comune di ASA Gold and Precious Metals, ha annunciato l'elezione di Ketu Desai e Paul Kazarian nel Consiglio di Amministrazione di ASA durante l'Assemblea Annuale del 2024. Gli azionisti hanno votato per l'elezione di questi candidati a causa delle scarse prestazioni del Fondo e dei fallimenti nella governance. Saba mira a migliorare il valore per gli azionisti e a ridurre lo scarto tra il valore netto dell'attivo (NAV) e il prezzo di mercato del Fondo.
Saba Capital Management, L.P., el mayor accionista común de ASA Gold and Precious Metals, anunció la elección de Ketu Desai y Paul Kazarian al Consejo de Directores de ASA en la Reunión Anual de 2024. Los accionistas votaron por estos nominados debido al rendimiento deficiente del Fondo y fallos en la gobernanza. Saba tiene como objetivo aumentar el valor para los accionistas y abordar el descuento del Fondo respecto al Valor Neto de los Activos (NAV).
Saba Capital Management, L.P., ASA Gold and Precious Metals의 가장 큰 보통주 주주는 2024년 연례 회의에서 ASA 이사회에 Ketu Desai와 Paul Kazarian의 선출을 발표했습니다. 주주들은 기금의 부진한 성과와 거버넌스 실패로 인해 이 후보들을 선출했습니다. Saba는 주주 가치를 향상시키고 기금의 순자산가치(NAV) 대비 할인율을 해소하고자 합니다.
Saba Capital Management, L.P., le plus grand actionnaire ordinaire de ASA Gold and Precious Metals, a annoncé l'élection de Ketu Desai et Paul Kazarian au conseil d'administration d'ASA lors de l'Assemblée annuelle de 2024. Les actionnaires ont élu ces candidats en raison des performances médiocres du fonds et des échecs de gouvernance. Saba vise à améliorer la valeur pour les actionnaires et à aborder la décote par rapport à la Valeur Nette d'Actifs (NAV) du fonds.
Saba Capital Management, L.P., der größte gemeinsame Aktionär von ASA Gold and Precious Metals, gab die Wahl von Ketu Desai und Paul Kazarian in den Vorstand von ASA bei der Jahreshauptversammlung 2024 bekannt. Die Aktionäre wählten diese Kandidaten aufgrund der schlechten Leistung des Fonds und Versäumnissen in der Governance. Saba zielt darauf ab, den Aktionärswert zu steigern und die Diskrepanz zum Nettoinventarwert (NAV) des Fonds zu adressieren.
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Shareholders Elect Ketu Desai and Paul Kazarian, Who Will Constitute the Entirety of ASA’s Board of Directors
Saba Capital Thanks Fellow Shareholders for Their Support at ASA’s 2024 Annual Meeting
NEW YORK--(BUSINESS WIRE)--
Saba Capital Management, L.P. (“Saba” or “we”), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSE: ASA) (“ASA” or the “Fund”), today commented on the outcome of the Fund’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”). Based on preliminary results of the Annual Meeting, shareholders voted to elect Saba nominees Ketu Desai and Paul Kazarian to ASA’s Board of Directors (the “Board”). No other nominee, including the incumbent directors sitting for reelection, received a majority of votes cast required under the bylaws.
Michael D’Angelo, Partner and General Counsel of Saba, commented:
“ASA shareholders have clearly recognized the desperate need for a Board refresh to address the Fund’s poor performance and the Board’s track record of governance failures, which has only escalated with its recent adoption of multiple discriminatory poison pills.
We greatly appreciate that shareholders have elected Ketu and Paul because they are the right directors to enact the long-overdue changes needed to address the Fund’s massive discount to NAV and deliver enhanced value to all ASA shareholders. Their independence, governance know-how and closed-end fund investing experience will be extremely additive to the Fund. Saba’s directors will take action to improve shareholder returns, rebuild trust and protect shareholders’ rights.”
About Saba Capital
Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba is headquartered in New York City. Learn more at www.sabacapital.com.
