ASA Gold and Precious Metals Limited (ASA)

The Rights Plan Committee (the “Committee”) of the Board of Directors (the “Board”) of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSEASA) has unanimously adopted a limited-duration shareholder rights plan (“Rights Plan”) to protect the interests of the Company and all of its shareholders. The current rights plan will expire at the close of business on December 20, 2024. The terms of the newly adopted Rights Plan are substantively identical to the terms of the shareholder rights plans that were adopted by the Board on December 31, 2023, and April 26, 2024, and by the Committee on August 23, 2024.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) declared a distribution of $0.02 per common share of the Company. The distribution is payable on November 20, 2024 to shareholders of record as of the close of business on November 13, 2024. Consistent with the Company’s semi-annual distribution in May 2024, this distribution represents a $0.01 per common share increase as compared to last year, doubling the rate per share that has been paid on a semi-annual basis since November 2018. The Company has paid periodic distributions on an uninterrupted basis since 1959.

The Rights Plan Committee (the “Committee”) of the Board of Directors (the “Board”) of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSEASA) has unanimously adopted a limited-duration shareholder rights plan (“Rights Plan”) to protect the interests of the Company and all of its shareholders. The Rights Plan is currently effective and will expire at the close of business on December 20, 2024. The terms of the Rights Plan are substantively identical to the terms of the shareholder rights plan that was adopted by the Board on April 26, 2024.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) announced that, based on the final results of the Company’s annual general meeting of shareholders held on April 26, 2024 (the “Annual Meeting”), shareholders elected Ketu Desai and Paul Kazarian, and re-elected William Donovan and Mary Joan Hoene, as directors of the Company.

Saba Capital Management, L.P. (“Saba” or “we”), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSEASA) (“ASA” or the “Fund”), today commented on the outcome of the Fund’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”). Based on preliminary results of the Annual Meeting, shareholders voted to elect Saba nominees Ketu Desai and Paul Kazarian to ASA’s Board of Directors (the “Board”).

The Board of Directors (the “Board”) of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSEASA) has unanimously adopted a limited-duration shareholder rights plan (“Rights Plan”) to protect the interests of the Company and all of its shareholders. The Rights Plan is currently effective and will expire at the close of business on August 23, 2024. The terms of the Rights Plan are substantially identical to the terms of the shareholder rights plan that was adopted by the Board on December 31, 2023.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) announced today that its Board of Directors (the “Board”) authorized the purchase of up to 5% of Company stock under the Company’s stock repurchase program. The authorization to repurchase shares will be effective on May 1, 2024 and expire on April 30, 2025, unless terminated sooner. The timing and actual number of shares repurchased will depend on a variety of factors. The Company anticipates that such purchases will be made opportunistically when shares are trading at a significant discount to the Net Asset Value per share (“NAV”) of the Company, based on historical discount levels and current market conditions, as determined by the Board and its Investment Advisor. The Company will report repurchase activity on the Company’s website at least quarterly.

Saba Capital Management, L.P. (“Saba” or “we”), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSEASA) (“ASA” or the “Fund”), today announced that a leading proxy advisory firm, Institutional Shareholder Services Inc. (“ISS”), has recommended shareholders vote for the election of Saba director candidates Ketu Desai and Paul Kazarian to the Fund’s Board of Directors (the “Board”) at the April 26, 2024 Annual Meeting of Shareholders (the “Annual Meeting”).

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) announced today that it has declared a distribution of $0.02 per common share of the Company payable on May 16, 2024 to shareholders of record of the Company’s common shares as of the close of business on May 6, 2024. This distribution represents a $0.01 per common share increase in the Company’s distribution, doubling the rate per share that has been paid on a semi-annual basis since November 2018. The Company has paid periodic distributions on an uninterrupted basis since 1959.

Saba Capital Management, L.P. (“Saba” or “we”), which manages certain investment funds that together beneficially own 16.9% of the outstanding shares of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSEASA), today announced that it has filed a lawsuit in the United States District Court for the Southern District of New York (the “Court”) against ASA and each member of its Board of Directors (Mary Joan Hoene, Bruce Hansen, William Donovan, Axel Merk and Anthony Artabane) regarding their decision to adopt a so-called shareholder rights plan that violates the Investment Company Act of 1940 (the “’40 Act”).

The Board of Directors (the “Board”) of ASA Gold and Precious Metals Limited (“ASA” or the “Company”) (NYSEASA) has unanimously adopted a limited-duration shareholder rights plan (“Rights Plan”) to protect the interests of the Company and all of its shareholders. The Rights Plan is currently effective and will expire on April 29, 2024.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) declared a distribution of $0.01 per common share of the Company. The distribution is payable on November 22, 2023 to shareholders of record as of the close of business on November 15, 2023. This distribution will be paid from undistributed realized gains. The Company has paid uninterrupted distributions since 1959.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) declared a distribution of $0.01 per common share of the Company. The distribution is payable on May 18, 2023 to shareholders of record as of the close of business on May 8, 2023. This distribution will be paid from undistributed realized gains. The Company has paid uninterrupted distributions since 1959.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) announced that Mr. Alexander (Axel) G. Merk has been appointed by the Board, on the recommendation of the Company’s Nominating, Audit and Ethics Committee, to serve as a Director until the 2023 Annual General Meeting of Shareholders.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) declared a distribution of $0.01 per common share of the Company. The distribution is payable on May 19, 2022 to shareholders of record as of the close of business on May 9, 2022. Due to a continued low level of dividends received by the portfolio, this distribution will be paid from undistributed realized gains. The Company has paid uninterrupted distributions since 1959.

ASA Gold and Precious Metals Limited (the “Company”) (NYSEASA) declared a distribution of $0.01 per common share of the Company. The distribution is payable on November 24, 2021 to shareholders of record as of the close of business on November 15, 2021. Due to a continued low level of dividends received by the portfolio, this distribution will be paid from undistributed realized gains. The Company has paid uninterrupted distributions since 1959.