Gold prices edge higher with focus on Ukraine-Russia, Jackson Hole
In a recent transaction, Merk Alexander, Chief Operating Officer of ASA Gold & Precious Metals Ltd (NYSE:ASA), acquired a significant number of shares in the company. According to the SEC filing, Alexander purchased a total of 24,168 shares over two days, with the transactions taking place on December 26 and December 27, 2024. The shares were bought at prices ranging from $20.1588 to $20.3036, amounting to a total investment of approximately $487,357.
Following these transactions, Alexander now holds 135,457 shares directly. The purchases reflect a continued investment in ASA Gold & Precious Metals, a company known for its focus on investments in the precious metals sector.
In other recent news, ASA Gold and Precious Metals Limited has adopted a shareholder rights plan aimed at preventing unilateral control. This move comes amidst a governance dispute among its board members, involving the New Directors and the Legacy Directors. The company's financial performance remains strong, with a 29% year-to-date return, a P/E ratio of 4.3, and consistent dividend payments for 18 consecutive years.
The rights plan, set to expire in December 2024, aims to prevent any entity, specifically Saba Capital, from gaining control without offering a premium approved by the Board or the Committee. The dispute has led to legal action against the company, with the case pending in the Southern District of New York.
The rights plan grants one right per ASA common share, exercisable if an individual or group acquires 15% or more of the outstanding shares. Despite the ongoing dispute, ASA maintains its commitment to engagement with Saba and all shareholders. Investors are encouraged to follow the company's filings and announcements for further developments regarding this boardroom disagreement.
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