Donovan William, a director at ASA Gold & Precious Metals Ltd (NYSE:ASA), recently purchased shares in the company, according to a filing with the Securities and Exchange Commission. On January 10, William acquired a total of 400 shares in two separate transactions. The shares were bought at prices ranging from $22.00 to $22.06, amounting to a total value of $8,812.
Following these transactions, William’s total holdings in the company increased to 4,400 shares. These acquisitions reflect William’s continued investment in ASA Gold & Precious Metals, which is known for its focus on precious metal investments.
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 action comes in response to Saba Capital Management, LP’s current holding of approximately 17.18% of ASA’s outstanding common shares. The rights plan is set to expire on December 20, 2024, and aims to prevent any entity, particularly Saba Capital, from gaining control without offering a premium deemed appropriate by the Board or the Committee.
ASA Gold has also been witnessing a governance dispute among its board members, as revealed in a recent SEC filing. This disagreement involves two sets of directors: the New Directors, nominated by Saba, and the Legacy Directors, proposed by the prior Board. Both parties have engaged separate legal counsel and seek reimbursement for their legal expenses as per the company’s bye-laws.
Furthermore, ASA Gold has been maintaining consistent dividend payments for 18 consecutive years, demonstrating its commitment to shareholder value. This information, along with the company’s strategic position and financial health, can be accessed by InvestingPro subscribers for a deeper understanding.
Lastly, despite the ongoing disputes, ASA Gold emphasizes its openness to constructive engagement with Saba, provided it aligns with the company’s investment focus in the precious metals sector. The Committee has also expressed its readiness to work with all Board members and shareholders to forge a positive direction for the company’s future. These are some of the recent developments within the company.
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