Gold prices edge higher with focus on Ukraine-Russia, Jackson Hole
PORTLAND, Maine—Merk Alexander, the Chief Operating Officer of ASA Gold & Precious Metals Ltd (NYSE:ASA), recently made significant stock purchases, as per a recent SEC filing. On January 6 and 7, Alexander acquired a total of 33,774 shares of ASA Gold & Precious Metals Ltd, with a combined value of approximately $711,249. The shares were bought at prices ranging from $20.94 to $21.24 per share.
Following these transactions, Alexander's (NYSE:ALX) direct ownership in the company increased to 214,497 shares. Additionally, Alexander holds 13,355 shares indirectly through a spousal account. These acquisitions reflect Alexander's continued confidence in the company's prospects as he strengthens his stake in the $405 million market cap firm. According to InvestingPro, ASA has maintained dividend payments for 18 consecutive years and remains profitable over the last twelve months, with additional insights available to subscribers.
In other recent news, ASA Gold and Precious Metals Limited has adopted a limited-duration shareholder rights plan to prevent unilateral control, and maintain shareholder interests. The initiative is designed to prevent any entity, notably Saba Capital Management, from gaining control without offering a premium deemed appropriate by the Board or the Committee. The rights plan will grant one right per ASA common share, exercisable if an individual or group acquires 15% or more of the outstanding shares.
Simultaneously, ASA Gold is currently embroiled in a governance dispute among its board members, involving the New Directors and the Legacy Directors. This dispute has led to both groups seeking separate legal counsel and reimbursement for their legal expenses. The exact nature of the disagreements remains undisclosed.
These are recent developments, and investors are encouraged to monitor the company's filings and announcements for further information. ASA Gold has consistently demonstrated a commitment to shareholder value, maintaining consistent dividend payments for 18 consecutive years. The company's performance and valuation metrics can be accessed through InvestingPro for deeper insights.
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