ASA Gold and Precious Metals - ASA STOCK NEWS

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.

ASA Gold and Precious Metals (ASA) has adopted a -duration shareholder rights plan to prevent creeping control by Saba Capital Management, LP, which currently holds approximately 16.87% of ASA's outstanding common shares. The plan aims to protect the long-term value of all shareholders and guard against tactics to gain control without paying an appropriate premium. The rights will initially trade with ASA’s common shares and will become exercisable only if a person acquires 15% or more of ASA’s outstanding common shares.

ASA Gold and Precious Metals announced the adoption of a Discount Management Program, authorizing the repurchase of up to 5% of company stock. The program aims to enhance shareholder value by purchasing shares at a discount to Net Asset Value per share. The Board's decision follows shareholder input and aims to improve the company's trading discount while maintaining its investment strategy. The initiative may increase liquidity for shareholders and create value through share repurchases below NAV. The company will report repurchase activity quarterly, with purchases made opportunistically based on historical discount levels and market conditions.

ISS supports Saba Capital's case for change at ASA Gold and Precious Metals , recommending shareholders vote for Saba's director candidates due to concerns over the board's defensive maneuvers and ASA's persistent discount to NAV. Saba's nominees aim to enhance shareholder value and improve governance practices.

ASA Gold and Precious Metals (ASA) declares a distribution of $0.02 per common share, doubling the rate since 2018. Merk Investments waives a portion of its advisory fee in response to a proxy contest initiated by Saba Capital Management, L.P.

Saba Capital Management, L.P. has filed a lawsuit against ASA Gold and Precious Metals Limited and its Board of Directors for adopting a discriminatory and unlawful shareholder rights plan, violating the Investment Company Act of 1940. The lawsuit seeks to invalidate the poison pill, targeting the company's entrenchment and fees over complying with the law and respecting shareholders' rights. ASA's behavior violates investor protection regulations, potentially causing severe dilution and economic harm to shareholders.

ASA Gold and Precious Metals Limited (NYSE:ASA) adopts a limited-duration shareholder rights plan to protect against significant share accumulation by Saba Capital Management, LP, aiming to prevent creeping control and safeguard long-term value for all shareholders.

ASA Gold and Precious Metals Limited declares a distribution of $0.01 per common share payable on November 22, 2023. The Company has paid uninterrupted distributions since 1959.

ASA Gold and Precious Metals Limited (NYSE: ASA) announced a distribution of $0.01 per common share, payable on May 18, 2023 to shareholders of record as of May 8, 2023. This marks the continuation of uninterrupted distributions since 1959. Additionally, shareholders elected Axel Merk and re-elected four other directors during the annual meeting held on March 28, 2023. The company also ratified Tait, Weller & Baker LLP as independent auditors for the fiscal year ending November 30, 2023. ASA focuses on long-term capital appreciation through investments in precious metals and maintains a policy of investing at least 80% of its assets in related securities.