ASA Gold and Precious Metals Shareholders Elect Saba Capital Nominees to the Fund’s Board of Directors

By: Saba Capital Management, L.P. via Business Wire

May 01, 2024 at 11:35 AM EDT

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”).

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.