ASA Gold and Precious Metals Limited Announces the Appointment of Paul Kazarian as President and Principal Executive Officer; and the Establishment of an Investment Committee to Manage the Company’s Portfolio Internally on an Interim Basis

Key Terms

closed-end management investment company financial

A closed-end management investment company is a pooled investment fund that raises a fixed amount of capital by issuing a set number of shares and then lists those shares for trading on an exchange; investors buy and sell shares on the market rather than redeeming them back to the fund. Think of it like a store with a fixed number of bottles on the shelf: the market price can be higher or lower than the underlying value of the assets, which matters to investors because it affects returns, liquidity and income characteristics independent of the fund’s actual holdings.

principal executive officer financial

The principal executive officer is the highest-ranking manager who leads a company’s overall strategy, operations and public communication—often acting like the captain of a ship who sets direction and makes final calls. Investors watch this person because their decisions, credibility and ability to deliver results shape company performance, risk and market confidence, and changes in that role can directly affect stock value and corporate accountability.

investment committee financial

An investment committee is a small group of experienced people who set the rules and make the key decisions about what investments to buy, hold, or sell for a fund, pension, or portfolio. Think of them as the steering team that balances goals, potential returns and risk—their choices shape how much money investors are likely to gain or lose and provide consistent oversight so decisions aren’t made impulsively.

trade execution technical

The moment a buy or sell order is completed on a market — when the requested shares change hands and the price is finalized. Think of it like placing an online order and receiving confirmation that the item shipped: execution determines the actual cost, timing, and certainty an investor gets versus the price they expected. Faster, more reliable execution can reduce unexpected costs and risk, so it directly affects investment outcomes.

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PORTLAND, Maine--(BUSINESS WIRE)-- ASA Gold and Precious Metals Limited (NYSE: ASA) (the “Company”), a registered closed-end management investment company listed on the New York Stock Exchange, today announced that Paul Kazarian has been appointed President and Principal Executive Officer (“PEO”) of the Company. Axel Merk and Peter Maletis no longer serve as officers of the Company.

The Company also announced that, as the Special Committee of the Board of Directors continues its work evaluating the potential external management arrangements for the Company, the Company will be managed internally in the interim. In that connection, the Board has established an investment committee (the “Investment Committee”) comprised of the following Board Members:

• Paul Kazarian, Chair of the Investment Committee
• Ketu Desai, Member of the Investment Committee
• Neal Neilinger, Member of the Investment Committee

Subject to the oversight and discretion of the Board, the Investment Committee is responsible for managing and overseeing the Company’s investment portfolio until such time that an external investment manager is retained by the Company (the “Interim Period”).

The Board has also approved the Company’s retention of Saba Capital Management, L.P. (“Saba”) to provide certain administrative, compliance and trade execution support services during this Interim Period. Saba is not entitled to compensation for such services, but will be reimbursed for its out of pocket costs in providing such services.

The Board will provide further updates regarding the Special Committee’s work in evaluating potential external management arrangements as appropriate.

About ASA Gold and Precious Metals Limited. ASA Gold and Precious Metals Limited is a publicly-traded registered closed-end management investment company. The Company’s common shares trade on the New York Stock Exchange under the ticker symbol “ASA”.

Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including whether there will, in fact, be changes to management of the Company. These factors are identified from time to time in the Company’s filings with the Securities and Exchange Commission as well as the materials on the Company’s website. The Company undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260625314944/en/

James Chekos
Corporate Secretary
(866) 251-6920 ext. 26318

Source: ASA Gold and Precious Metals Limited