ASA Gold & Precious Metals Files Proxy Materials

TL;DR

ASA Gold & Precious Metals filed proxy docs, no fee. NYSE: ASA

AI Summary

ASA Gold and Precious Metals Limited filed a Definitive Additional Materials proxy statement on March 12, 2024. The filing is related to the company's proxy materials and does not require a filing fee. The company is listed on the NYSE under the ticker ASA.

Why It Matters

This filing provides shareholders with important information regarding the company's governance and upcoming decisions, allowing them to participate in the voting process.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement and does not contain information that inherently increases risk for investors.

Key Players & Entities

• ASA Gold and Precious Metals Limited (company) — Registrant
• ASA (company) — Ticker Symbol
• 20240312 (date) — Filing Date

FAQ

Key Financial Figures

• $1.1 billion — squo;s investment Adviser managing over $1.1 billion in gold and gold mining investments. Mr

Filing Documents

• asa_defa14a-031224.htm (DEFA14A) — 26KB
• asa_defa14a-img001.jpg (GRAPHIC) — 3KB
• 0001999371-24-003395.txt ( ) — 32KB

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 12, 2024 Dear Fellow Shareholder : In connection with the upcoming Annual General Meeting of Shareholders of ASA, we continue to see strong support from retail shareholders. Please note that there has been some confusion regarding which proxy card represents ASA. To be clear, in order to support your ASA incumbent Board nominees, you should only send back the executed WHITE proxy card. If you received a GOLD proxy card, it is Saba’s card. Please do NOT return it. If you send back Saba’s GOLD proxy card, you will cancel your vote on your WHITE proxy card. Please take a few minutes to sign, date and mail your WHITE proxy card in the prepaid return envelope or vote by internet following the instructions on the WHITE proxy card. Saba’s Investment Goals are NOT Aligned with ASA’s Board and All Shareholders We have provided certain information below and in previous letters on Saba’s nominees’ lack of experience in the gold, minerals and mining industry and the expertise and experience of your Board’s incumbent nominees. Based on Saba’s track record, we believe that they are pursuing a self-serving agenda that will not be beneficial for other ASA shareholders. ASA’s investment objective is long-term capital appreciation primarily through investing in the exploration, mining or processing of gold and other precious minerals. This is the reason you invested in ASA, and we believe it differs from the reason the activist invests in ASA. As we previously addressed, Saba pressures closed-end fund (“CEF”) boards and management to conduct a partial tender offer that allows Saba to sell its shares, leaving shareholders with a smaller fund and higher expense ratio. In this situation, if Saba’s nominees replace your Board, Saba will have complete decision-making power. Saba’s nominees have zero expertise in the complex mining and mineral industry. Further, Saba has fired investment advisers and appointed themselves as the adviser. It should be clear that Saba’s investment goals are not aligned with your Fund’s Board, management team, investment adviser and long-term shareholders. Your ASA Board is Highly Qualified The four current ASA directors standing for reelection on ASA’s director slate at the upcoming Annual General Meeting of Shareholders are highly qualified professionals who have substantial experience and the skills needed to oversee ASA in a complicated gold and mineral industry. Further, three of the four directors nominated by ASA for reelection are independent and have successfully helped ASA navigate through numerous challenges in the gold industry over the past two years. You should also know that: Mary Joan Hoene has been an independent director since 2014 and Chair of the Board chair since 2015. She led the legal development for the first gold ETF product with the World Gold Council in 2002. Her expertise is invaluable for navigating the complex regulatory and compliance issues associated with precious metals investing. (Over) ASA-3_2024 Bruce Hanson has served as an independent director since 2014. As former CEO of General Moly, Inc. (Molybdenum mining company) and former CFO of Newmont Mining, he has extensive mining and finance experience with a strong understanding of mining operations and the regulatory environment. William Donovan became an independent director in 2020. As former President of United States Steel and the Carnegie Pension Fund, he has an extensive understanding of financial oversight of investment strategies. Axel Merk is President and Chief Investment Officer of Merk Investments, ASA’s investment Adviser managing over $1.1 billion in gold and gold mining investments. Mr. Merk created the first U.S. based physical gold exchange traded fund with a patented process to facilitate delivery of gold in coins or bars to investors. His strategic investment and management expertise are directly relevant to overse

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View this DEFA14A filing on SEC EDGAR