ASA Gold and Precious Metals Fund Adopts Limited-Duration Shareholder Rights Plan
ASA Gold and Precious Metals Limited (ASA)
US:NYSE Investor Relations:
asaltd.com
Company Research
Source: Business Wire
Responds to Significant Share Accumulation by Saba CapitalDesigned to Prevent Creeping Control and Protect Long-Term Value for All Shareholders PORTLAND, Maine--(BUSINESS WIRE)--The Board of Directors (the “Board”) of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSE:ASA) has unanimously adopted a limited-duration shareholder rights plan (“Rights Plan”) to protect the interests of the Company and all of its shareholders. The Rights Plan is currently effective and will expire on April 29, 2024.The limited-duration Rights Plan was adopted in response to the rapid and significant accumulation of ASA shares by Saba Capital Management, LP (“Saba”). In recent public filings, Saba disclosed that it and its affiliates have acquired a position in ASA representing 16.87% of ASA’s outstanding common shares.The Rights Plan is intended to prevent Saba’s unilateral attempt to obtain creeping control of the Company, which the Board believes would undermine ASA’s strategic focus
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ASA
News
- ASA Gold and Precious Metals Limited Announces Adoption of Discount Management ProgramBusiness Wire
- ISS Supports Saba Capital's Case for Change at ASA Gold and Precious Metals Limited [Yahoo! Finance]Yahoo! Finance
- ISS Supports Saba Capital’s Case for Change at ASA Gold and Precious Metals LimitedBusiness Wire
- CEF Insights: ASA Gold Mining Opportunity Needs Shareholder Support [Seeking Alpha]Seeking Alpha
- ASA Gold and Precious Metals Limited Announces Increase To Semi-Annual Distribution and Additional Voluntary Fee Waiver by its AdviserBusiness Wire
ASA
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/24/24 - Form DEFA14A
- 4/22/24 - Form DEFA14A
- ASA's page on the SEC website