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13- 1d agoAfter-hours26.10.24 06:22PREC14AOther#●●●#●●●
ASA Gold & Precious Metals Ltd
Axel Merk, the former investment adviser of ASA Gold and Precious Metals, is soliciting votes against the Board's proposals at the upcoming November 30, 2026, annual meeting. He specifically opposes the conversion to a BDC, the new advisory agreement with Saba Capital, and the elimination of the Fund's fundamental investment policies regarding gold and precious metals. Merk, who holds 303,805 shares, argues that these changes are not in the best interests of shareholders and could lead to significant tax implications.…more
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- 2d agoPre-market26.10.23 10:37filedN-14 8C/AOther
ASA Gold & Precious Metals Ltd
ASA Gold and Precious Metals will hold a shareholder meeting on November 30, 2026, to vote on converting from a Bermuda-based closed-end investment company into a U.S. business development company (BDC). If approved, the company will be renamed Saba BDC, Inc., abandon its gold-focused investment strategy, and shift to an income-oriented, credit-focused strategy managed by Saba Capital Management.…more
$48.63+0.43%vs prev closeView filingShare - 5d agoAfter-hours26.10.20 05:05DFAN14AOther
ASA Gold & Precious Metals Ltd
Axel Merk is urging shareholders to vote against the Board's proposed restructuring of ASA Gold & Precious Metals, citing potential tax liabilities of up to $150 million. This tax burden could immediately reduce the Fund's net asset value (NAV) by more than 10%, impacting all shareholders regardless of account type. Merk argues that shareholders should be granted a 100% tender offer at or near NAV before any strategic transformation occurs.…more
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GlobeNewswire- 9.4Pre-market26.09.04 21:48#●●●
ASA Gold to Convert to Yield-Focused BDC
ASA Gold and Precious Metals has approved a plan to convert from a closed-end investment company into a yield-focused business development company (BDC). The company also selected Saba Capital Management as its new investment manager to support this strategic shift toward income-oriented investments.…more
$48.63+0.43%vs prev closeDetected5m · 30m · 60m · Next dayPLUSShareBenzinga