ASA Gold and Precious Metals Shareholders Elect Saba Capital Nominees to the Fund’s Board of Directors
30 Aprile 2024 - 9:05PM
Business Wire
Shareholders Elect Ketu Desai and Paul
Kazarian, Who Will Constitute the Entirety of ASA’s Board of
Directors
Saba Capital Thanks Fellow Shareholders for
Their Support at ASA’s 2024 Annual Meeting
Saba Capital Management, L.P. (“Saba” or “we”), the largest
common shareholder of ASA Gold and Precious Metals Limited (NYSE:
ASA) (“ASA” or the “Fund”), today commented on the outcome of the
Fund’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”).
Based on preliminary results of the Annual Meeting, shareholders
voted to elect Saba nominees Ketu Desai and Paul Kazarian to ASA’s
Board of Directors (the “Board”). No other nominee, including the
incumbent directors sitting for reelection, received a majority of
votes cast required under the bylaws.
Michael D’Angelo, Partner and General Counsel of Saba,
commented:
“ASA shareholders have clearly recognized the desperate need for
a Board refresh to address the Fund’s poor performance and the
Board’s track record of governance failures, which has only
escalated with its recent adoption of multiple discriminatory
poison pills.
We greatly appreciate that shareholders have elected Ketu and
Paul because they are the right directors to enact the long-overdue
changes needed to address the Fund’s massive discount to NAV and
deliver enhanced value to all ASA shareholders. Their independence,
governance know-how and closed-end fund investing experience will
be extremely additive to the Fund. Saba’s directors will take
action to improve shareholder returns, rebuild trust and protect
shareholders’ rights.”
About Saba Capital
Saba Capital Management, L.P. is a global alternative asset
management firm that seeks to deliver superior risk-adjusted
returns for a diverse group of clients. Founded in 2009 by Boaz
Weinstein, Saba is a pioneer of credit relative value strategies
and capital structure arbitrage. Saba is headquartered in New York
City. Learn more at www.sabacapital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430935128/en/
Longacre Square Partners Greg Marose / Kate Sylvester,
646-386-0091 gmarose@longacresquare.com /
ksylvester@longacresquare.com
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