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ASA Gold and Precious Metals held its Annual General Meeting on April 26, 2024, where shareholders elected new directors and approved the appointment of independent auditors. The company focuses on investing in companies engaged in precious metals and minerals exploration.
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., 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.
