In recent transactions, Merk Alexander, Chief Operating Officer of ASA Gold & Precious Metals Ltd (NYSE:ASA), acquired a significant number of shares in the company. On December 31, 2024, Alexander purchased 3,366 shares at a weighted average price of approximately $20.37 per share. Following this, on January 2, 2025, he acquired an additional 11,075 shares at an average price of around $20.92 per share. These acquisitions amount to a total investment of approximately $300,219. After these purchases, Alexander directly holds 163,253 shares in the company. Additionally, there is a separate holding of 13,355 shares indirectly owned by his spouse. The company, currently valued at $401 million, maintains a GOOD financial health score according to InvestingPro, which highlights its 18-year track record of consistent dividend payments. For deeper insights into insider trading patterns and comprehensive financial analysis, explore additional metrics on InvestingPro.
In other recent news, ASA Gold and Precious Metals Limited has adopted a shareholder rights plan to prevent creeping control and protect shareholder interests. This move comes as Saba Capital Management currently holds approximately 17.18% of ASA’s outstanding common shares. The rights plan, set to expire on December 20, 2024, aims to safeguard against any entity from gaining control without offering a premium deemed appropriate by the Board or the Rights Plan Committee.
In parallel, ASA Gold is currently facing a governance dispute among its board members, as revealed in a recent SEC filing. The dispute involves two sets of directors: the New Directors, elected in April 2024, and the Legacy Directors, re-elected in the same month. Both groups have engaged separate legal counsel to address the matter and have sought reimbursement for their legal expenses as per the company’s bye-laws.
These recent developments highlight the ongoing tensions within ASA Gold, with the company maintaining its commitment to shareholder value, as evidenced by 18 consecutive years of consistent dividend payments. The company has expressed its readiness to engage constructively with Saba and work with all Board members and shareholders to forge a positive direction for the company’s future.
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