ASA Gold & Precious Metals Ltd Proxy Filing

TL;DR

ASA Gold & Precious Metals Ltd filed proxy materials, no fee required.

AI Summary

ASA Gold and Precious Metals Limited filed a Definitive Additional Materials proxy statement on March 4, 2024. The filing is related to the company's proxy materials and does not involve a fee. The company was formerly known as ASA Ltd and ASA Bermuda Ltd.

Why It Matters

This filing provides additional materials for proxy solicitations, which are crucial for shareholder voting on corporate matters.

Risk Assessment

Risk Level: low — This is a routine filing of additional proxy materials and does not indicate any immediate financial or operational risks.

Key Players & Entities

• ASA Gold and Precious Metals Limited (company) — Registrant
• ASA Ltd (company) — Former company name
• ASA Bermuda Ltd (company) — Former company name
• Apex Fund Services (company) — Business and mailing address provider

FAQ

Filing Documents

• asa_defa14a-030424.htm (DEFA14A) — 26KB
• asa_defa14a-img001.jpg (GRAPHIC) — 15KB
• asa_defa14a-img002.jpg (GRAPHIC) — 2KB
• asa_defa14a-img003.jpg (GRAPHIC) — 2KB
• 0001999371-24-003028.txt ( ) — 53KB

From the Filing

DEFINITIVE PROXY SOLICITING MATERIALS UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 ASA Gold and Precious Metals Limited (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a–6(i)(1) and 0–11. Fee paid previously with preliminary materials. ASA GOLD AND PRECIOUS METALS, LIMITED (NYSE: ASA, the “Fund”) March 4, 2024 Dear Fellow Shareholder : I write to you again in connection with the Annual General Meeting of Shareholders of ASA to be held on April 26, 2024. The dissident shareholder, Saba Capital Management (“Saba”), has mailed a proxy statement and GOLD proxy card to your Fund’s shareholders. Saba has nominated an opposition slate to stand for election to replace your highly qualified Board with its handpicked slate of nominees. If Saba were to replace your Board, they would take control of your Fund. It is critical that you support your experienced Fund nominees. Please take a few minutes to sign, date and mail the WHITE proxy card in the postage paid return envelope or vote by internet. Please discard any GOLD card from Saba you may receive. Saba has a History of Misleading Shareholders We believe Saba’s proxy statement makes deceptive and misleading statements regarding the performance of your Fund. Saba’s campaigns historically use the same boilerplate language that attempts to trick retail shareholders into supporting its nominees. The FACTS are essential for you to make an informed decision. Saba’s Misleading and False Statements FACTS The Fund has continued poor performance. From April 12, 2019, when Merk started managing ASA, through January 31, 2024, ASA's Net Asset Value (NAV) had a total return of +46.0%; the total return of ASA’s share price was 45.3%. * Both ASA’s NAV and share price beat the Fund’s benchmark , the NYSE Arca Gold Miners Total Return Index, which returned +35.5% over the same period. * The Board has been ineffective in addressing the NAV discount and needs fresh ideas. Despite several invitations to engage for almost a year, Saba has declined to share its “fresh” ideas with your Board. Saba complains about ASA’s discount but conveniently fails to point out that 87% of closed end funds trade at discounts to their NAV. ASA’s Board constantly monitors the discount as part of its supervisory role. Saba’s history of forcing tender offers typically reduces the discount only temporarily, yet likely would permanently increase fixed costs for remaining shareholders. If Saba gets control of ASA, it could force a fire sale aimed at temporarily narrowing the discount but harming your long-term investment in ASA . (Over) ASA‐2_2024 Saba’s Misleading and False Statements FACTS Saba is committed to improving the Fund for the benefit of all shareholders, including terminating the Advisory Agreement with Merk. Saba has a track record of making statements it claims will “help” the Fund, but historically its actions do not match what it promises. Saba’s “commitment” is self-serving: Saba replaced the advisers of Franklin Templeton Global Income Fund (GIM, now “SABA”) and Voya Prime Rate Trust Fund (PPR, now “BRW”) with itself, collecting a management fee for this privilege. Further, Saba reduced its investment in GIM by 71% by Q4 of 2024 and by 72% in PPR in 2021. Saba’s business is to take over funds and make a profit for itself and its wealthy hedge fund investors. Saba harps on the discount to make you believe it should control your Fund. Your Board always has the best interests of all shareholders in mind, welcomes ideas from all shareholders and continues to be proactive on all fronts including protecting your investment from Saba’s handpicked nominees who have negligible experience overseeing a gold mining Fund. Your portfolio management team has decades of experience in the gold and precious metals sector. Send a Strong Message to the Dissident We are in the early stages of fighting Saba off. We believe your fellow shareholders will also agree with us and overwhelmingly will support your Fund’s nominees. Please take time to vote FOR your nominees by signing, dating, and mailing the enclosed WHITE proxy card today in the pre-pa

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