ASA Gold and Precious Metals (ASA) Stock News

ASA Gold and Precious Metals Limited (NYSE: ASA) announced a 90-day extension of its Investment Advisory Agreement with Merk Investments LLC effective April 1, 2026, and engaged Cantor Fitzgerald & Co. on March 31, 2026 to assist the Board’s Special Committee in a company review.

The company declared a $0.04 per share distribution payable May 13, 2026 to shareholders of record as of May 1, 2026, a $0.01 per share increase versus last year.

ASA Gold and Precious Metals Limited (NYSE: ASA) reported final results from its annual general meeting held on November 6, 2025. Shareholders elected Karen Caldwell and Neal Neilinger, and re-elected Maryann Bruce, Ketu Desai and Paul Kazarian as directors.

Vote totals (of 15,288,756 voted) included: Maryann Bruce 14,348,822 for; Ketu Desai 14,324,321 for; Paul Kazarian 14,313,163 for; Neal Neilinger 14,002,715 for; Karen Caldwell 13,963,520 for. Shareholders also ratified appointment of Tait, Weller & Baker LLP as independent auditors for the fiscal year ending November 30, 2025 with 14,803,358 votes for.

The company reiterated its investment mandate to maintain at least 80% of assets in precious-metals-related holdings and noted Merk Investments LLC provides advisory services.

ASA Gold and Precious Metals Limited (NYSE: ASA) has declared a distribution of $0.03 per common share, payable on November 19, 2025, to shareholders of record as of November 12, 2025. The company has maintained uninterrupted distributions since 1959.

ASA is a non-diversified, closed-end fund focusing on long-term capital appreciation through precious metals investments. The fund maintains a fundamental policy requiring at least 80% of total assets to be invested in precious metals-related securities, bullion, or instruments tracking precious metals. Investment advisory services are provided by Merk Investments LLC.

ASA Gold and Precious Metals Limited (NYSE: ASA) announced significant changes to its Board of Directors. Directors William Donovan and Mary Joan Hoene have resigned from their positions, with Hoene stepping down as Board Chair after serving since 2019. The company has appointed Karen Caldwell as a new Director until the 2025 Annual General Meeting of Shareholders.

Caldwell, 66, brings extensive financial leadership experience as the current CFO of Tides Organization and previous CFO roles at Reform Alliance, NHP Foundation, and New York City Housing Authority. She will serve as Chair of the Audit and Ethics Committee and has been designated as an "audit committee financial expert."

Saba Capital Management, L.P., holding a 17.2% stake in ASA Gold and Precious Metals Limited (NYSE: ASA), announced the final certified voting results from the Fund's Special Meeting held on June 13, 2025. Shareholders approved expanding the Board of Directors to five members and elected independent governance expert Maryann Bruce as the fifth director. The newly constituted five-member Board, comprising Maryann Bruce, Ketu Desai, William Donovan, Mary Joan Hoene, and Paul Kazarian, will serve until the 2025 Annual Meeting of Shareholders, when shareholders will vote on the entire Board composition.

ASA Gold and Precious Metals Limited (NYSE: ASA) shareholders have voted to expand the Board of Directors to five members and elected Maryann Bruce as an independent director at the Special Meeting held on June 13, 2025. The vote was led by Saba Capital Management, the Fund's largest shareholder with a 17.2% stake. The new five-member Board will include Maryann Bruce, Ketu Desai, William Donovan, Mary Joan Hoene, and Paul Kazarian, serving until the 2025 Annual Meeting. Boaz Weinstein, Founder and CIO of Saba, expressed gratitude for shareholder support and highlighted Bruce's extensive fund management background and governance expertise as valuable additions to the Fund.

The Supreme Court of Bermuda has extended an interim injunction against ASA Gold and Precious Metals Limited (NYSE: ASA) and two of its directors, Mary Joan Hoene and William Donovan, prohibiting them from using company resources to interfere with the upcoming June 13th Special Meeting and 2025 Annual General Meeting. The court ruled that the Litigation Committee, involving Hoene and Donovan, likely lacked authority to solicit proxies opposing shareholder resolutions. Board member Paul Kazarian, who sought the injunction, criticized Hoene and Donovan for allegedly spending millions in company resources to oppose shareholder interests. The court found there is "a serious issue to be tried" regarding the Litigation Committee's authority and noted the potential exclusion of Kazarian's rights as a director in a deadlocked Board situation.

The Supreme Court of Bermuda has issued an interim injunction against ASA Gold and Precious Metals Limited (NYSE: ASA) and two of its directors, Mary Joan Hoene and William Donovan, following legal action by board member Paul Kazarian. The injunction, issued on May 8, 2025, restrains the defendants from interfering with upcoming shareholder meetings and requires withdrawal of recent SEC filings. The court found Kazarian's claims "seriously arguable" with "a realistic prospect of success." This follows a March 28, 2025 ruling by the U.S. District Court that found the defendants violated federal law by adopting an illegal poison pill against the Investment Company Act of 1940. Despite this ruling, Hoene and Donovan extended the poison pill through their board committee on March 31, 2025.

Saba Capital Management, ASA Gold and Precious Metals 's (NYSE: ASA) largest shareholder with 17.2% ownership, has filed a lawsuit against ASA and its legacy Board members over an unlawful poison pill. The lawsuit follows the Court's March 28th ruling that declared ASA's previous shareholder rights plan violated the Investment Company Act of 1940.

The controversial poison pill has been in effect for over 474 days, preventing Saba from purchasing additional shares. After the Court's ruling, ASA quickly readopted a substantively identical pill, prompting further legal action. The dispute highlights ongoing governance issues, including the formation of 'Shadow Board' committees that excluded newly elected directors from critical decisions.

Saba seeks recission of the newly adopted poison pill, a declaration of its violation of federal law, and an injunction against further implementation. The firm argues that ASA's actions prioritize fees and self-preservation over shareholder interests.