1. Shareholders approved expanding ASA's Board to five members. 2. Maryann Bruce was elected as an independent governance expert. 3. Saba Capital is ASA's largest shareholder with 17.2% ownership. 4. New Board composition may enhance governance and strategic direction. 5. Board members will serve until the 2025 Annual Meeting.
Strengthening the board with an independent expert may improve decision-making and shareholder value. Historical examples suggest that board expansions can lead to positive market reactions.
The board change is significant for investors; Saba's influence and governance skills can drive performance.
The newly elected board is positioned to influence ASA's strategies long-term, impacting shareholder trust and loyalty positively.
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 the final certified voting results of the Fund’s Special Meeting of Shareholders (the “Special Meeting”) held on June 13, 2025. The final voting results of the Special Meeting confirm that shareholders voted to expand ASA’s Board of Directors (the “Board”) to five members and to elect independent candidate Maryann Bruce as the fifth director.
The five-member Board is now composed of Maryann Bruce, Ketu Desai, William Donovan, Mary Joan Hoene and Paul Kazarian. The Board will serve until the 2025 Annual Meeting of Shareholders, at which time shareholders will vote on the composition of the entire Board.
The final voting results have been certified by the independent Inspector of Elections.
About Saba Capital
Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.