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Saba Capital Management, L.P., the largest common shareholder of ASA Gold and Precious Metals , commented on the outcome of the Fund's 2024 Annual Meeting of Shareholders. Shareholders voted to elect Saba nominees Ketu Desai and Paul Kazarian to ASA's Board of Directors. Saba aims to address the Fund's poor performance, governance failures, and discriminatory poison pills to enhance shareholder value.
Saba Capital Management, L.P., il maggiore azionista comune di ASA Gold and Precious Metals, ha commentato i risultati dell'Assemblea Annuale degli Azionisti del 2024. Gli azionisti hanno votato per eleggere i candidati di Saba, Ketu Desai e Paul Kazarian, nel Consiglio di Amministrazione di ASA. Saba mira a migliorare le scarse prestazioni del fondo, a risolvere i fallimenti nella governance e a eliminare le clausole di salvaguardia discriminatorie per aumentare il valore per gli azionisti.
Saba Capital Management, L.P., el mayor accionista común de ASA Gold and Precious Metals, comentó sobre el resultado de la Reunión Anual de Accionistas del Fondo de 2024. Los accionistas votaron para elegir a los nominados de Saba, Ketu Desai y Paul Kazarian, para el Consejo de Dirección de ASA. Saba tiene como objetivo abordar el bajo rendimiento del fondo, los fallos en la gobernanza y las píldoras venenosas discriminatorias para mejorar el valor para los accionistas.
Saba Capital Management, L.P., ASA Gold and Precious Metals의 가장 큰 일반 주주는 펀드의 2024년 연례 주주총회 결과에 대해 언급했습니다. 주주들은 Saba의 후보인 Ketu Desai와 Paul Kazarian을 ASA 이사회에 선출했습니다. Saba는 펀드의 부진한 성과, 거버넌스 실패 및 차별적인 독소 조항을 해결하여 주주 가치를 높이기 위해 노력할 것입니다.
Saba Capital Management, L.P., l'actionnaire commun le plus important de ASA Gold and Precious Metals, a commenté les résultats de la Réunion Annuelle des Actionnaires du Fonds de 2024. Les actionnaires ont voté pour élire les nominés de Saba, Ketu Desai et Paul Kazarian, au Conseil d'Administration d'ASA. Saba vise à remédier aux mauvaises performances du fonds, aux échecs de gouvernance et aux pilules empoisonnées discriminatoires pour augmenter la valeur pour les actionnaires.
Saba Capital Management, L.P., der größte gemeinsame Aktionär von ASA Gold and Precious Metals, äußerte sich zum Ausgang der Jahresversammlung der Aktionäre 2024 des Fonds. Die Aktionäre stimmten dafür, die Saba-Nominierten Ketu Desai und Paul Kazarian in den Vorstand von ASA zu wählen. Saba beabsichtigt, die schlechte Leistung des Fonds, Versäumnisse in der Governance und diskriminierende Giftklauseln anzusprechen, um den Wert für die Aktionäre zu steigern.
Positive
Shareholders voted to elect Saba nominees to ASA's Board of Directors, indicating support for change and improvement within the Fund.
The addition of new directors with independence, governance know-how, and closed-end fund investing experience is expected to be beneficial for enhancing shareholder value.
Negative
The reference to the Fund's poor performance and governance failures suggests underlying issues that may have impacted shareholder returns negatively.
The mention of discriminatory poison pills adopted by the Board raises concerns about governance practices that could have adverse effects on shareholders' rights.
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”).
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.
