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Independent Proxy Advisor ISS Recommends ASA Gold and Precious Metals Shareholders Vote FOR Saba Capital's Proposals to Expand the Board

1. Saba Capital supports expanding ASA's Board; ISS recommends voting in favor. 2. Saba holds 17.2% shares, pushing for governance changes.

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FAQ

Why Bullish?

Positive governance changes, backed by ISS, typically boost investor confidence and stock value. Historical examples show that firms often see stock price increases after board expansions or positive proxy recommendations.

How important is it?

This article discusses a significant change in governance that could influence the stock's performance. Saba's large stake and ISS's support highlight the importance of these developments in shaping market perceptions.

Why Short Term?

The immediate influence involves shareholder votes, likely affecting prices in the near term. Shareholder sentiment can rapidly shift prices following such announcements.

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NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSE: ASA) (“ASA” or the “Fund”) with 17.2% ownership of the Fund's outstanding shares, today announced that a leading proxy advisory firm, Institutional Shareholder Services Inc. (“ISS”), has recommended shareholders vote FOR the expansion of ASA's Board of Directors (the “Board”) to five members and FOR the election.

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