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ASA Gold and Precious Metals Limited (NYSE:<a class="ticker...

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ASA Gold and Precious Metals Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ASA">ASA</a>) (the "Fund"), a registered closed-end management investment company listed on the New York Stock Exchange, today announced that Axel Merk has resigned from his position as Chief Operating Officer of the Fund, effective immediately.

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Mr. Merk submitted his resignation letter to the Board of Directors of the Fund this morning without prior notice. Also without prior notice to the Fund or the Board, Mr. Merk announced his resignation through a press release, which included a copy of his resignation letter. In that letter, Mr. Merk expressed concerns regarding what he perceives to be potential risks to the Fund's control environment.

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Despite Mr. Merk's actions, the Fund's control environment is sound. Further, the Board takes its governance responsibilities seriously, including seeking to ensure operational and control environment continuity through any changes to management.

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The Board will provide further updates regarding the potential transition as appropriate.

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About ASA Gold and Precious Metals Limited. ASA Gold and Precious Metals Limited is a publicly-traded registered closed-end management investment company. The Fund's common shares trade on the New York Stock Exchange under the ticker symbol "ASA".

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Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including uncertainty as to whether the Fund's operational and control environment are, and will remain, sound and whether there will, in fact, be changes to management of the Fund. These factors are identified from time to time in the Fund's filings with the Securities and Exchange Commission as well as the materials on the Fund's website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260611497168r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260611497168/en/" rel="nofollow">https://www.businesswire.com/news/home/20260611497168/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
James Chekos
<br xmlns="http://www.w3.org/1999/xhtml"></br>Corporate Secretary
<br xmlns="http://www.w3.org/1999/xhtml"></br>(866) 251-6920 ext. 26318

</p>

ASA Gold and Precious Metals Limited Announces Resignation of Axel Merk as Chief Operating Officer of the Fund

ASA COO Axel Merk resigns; board signals governance continuity during transition

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>&lt;p xmlns=&quot;http://www.w3.org/1999/xhtml&quot;&gt;
ASA Gold and Precious Metals Limited (NYSE:&lt;a class=&quot;ticker...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>ASA Gold and Precious Metals Limited disclosed that Axel Merk has resigned as Chief Operating Officer, effective immediately, with the resignation letter provided to the Board this morning and no prior notice given. The Board asserts the Fund’s control environment remains sound and will provide updates on any transition. Investors should monitor transition timing and any implications for governance and operations.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Axel Merk resigns as ASA&#039;s COO effective immediately. Board cites sound control environment.</li><li>Merk submitted resignation this morning without prior notice to the Fund or Board.</li><li>Board emphasizes governance continuity and will provide updates on the transition.</li><li>Forward-looking statements in release warn of risks around controls and management changes.</li><li>The press release notes no immediate operational disruption.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>ASA Gold and Precious Metals Limited (ASA)</strong>: COO resignation could test governance; board will guide transition; potential near-term volatility if transition plan is unclear.</li><li><strong>Axel Merk (N/A)</strong>: Resigned COO; resignation letter cited concerns about control environment; governance concerns may affect investor sentiment.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. This is a leadership-change at a registered closed-end fund, with governance implications and potential impact on operations and investor confidence.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Investors will watch for a formal transition plan and replacement timing.</li><li>Board assertion of sound controls may cap downside.</li><li>Potential governance uncertainty could briefly raise ASA&#039;s stock volatility.</li><li>Regulatory and distribution decisions may be revisited during leadership change.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Axel Merk resigned as ASA&#039;s Chief Operating Officer, effective immediately.</li><li>Resignation letter submitted to ASA&#039;s Board this morning; no prior notice.</li><li>Board says the control environment is sound and continuity will be sought.</li><li>Forward-Looking Statements section references risks from governance changes.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near term, limited impact absent transition specifics; volatility likely within weeks.</p>
  </section>
</section>


<article>
  <section>
    <h2>Executive Summary</h2>
    <p><strong>ASA</strong> Gold and Precious Metals Limited (NYSE: <strong>ASA</strong>) (the "Fund"), a registered closed-end management investment company listed on the New York Stock Exchange, today announced that Axel Merk has resigned from his position as Chief Operating Officer of the Fund, <strong>effective immediately</strong>.</p>
  </section>

  <section>
    <h2>Resignation Details</h2>
    <p>Mr. Merk submitted his resignation letter to the Board of Directors of the Fund this morning without prior notice. Also without prior notice to the Fund or the Board, Mr. Merk announced his resignation through a press release, which included a copy of his resignation letter. In that letter, Mr. Merk expressed concerns regarding what he perceives to be potential risks to the Fund's control environment.</p>
  </section>

  <section>
    <h2>Board Response and Transition Plan</h2>
    <p>Despite Mr. Merk's actions, <em>the Fund's control environment is sound</em>. <em>Further, the Board takes its governance responsibilities seriously, including seeking to ensure operational and control environment continuity through any changes to management.</em></p>
    <p>The Board will provide further updates regarding the potential transition as appropriate.</p>
  </section>

  <section>
    <h2>About ASA</h2>
    <p>About ASA Gold and Precious Metals Limited. ASA Gold and Precious Metals Limited is a publicly-traded registered closed-end management investment company. The Fund's common shares trade on the New York Stock Exchange under the ticker symbol "<strong>ASA</strong>".</p>
  </section>

  <section>
    <h2>Forward-Looking Statements</h2>
    <p>Forward-Looking Statements. This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including but not limited to statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including uncertainty as to whether the Fund's operational and control environment are, and will remain, sound and whether there will, in fact, be changes to management of the Fund. These factors are identified from time to time in the Fund's filings with the Securities and Exchange Commission as well as the materials on the Fund's website. The Fund undertakes no obligation to update such statements to reflect subsequent events, except as may be required by law.</p>
  </section>

  <section>
    <h2>Contacts</h2>
    <p>James Chekos<br>Corporate Secretary<br>(866) 251-6920 ext. 26318</p>
  </section>
</article>

ASA Gold and Precious Metals Limited disclosed that Axel Merk has resigned as Chief Operating Officer, effective immediately, with the resignation letter provided to the Board this morning and no prior notice given. The Board asserts the Fund’s control environment remains sound and will provide updates on any transition. Investors should monitor transition timing and any implications for governance and operations.

ASA Gold and Precious Metals Limited Announces Resignation of Axel Merk as Chief Operating Officer of the Fund

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News