In a recent transaction, Merk Alexander, Chief Operating Officer of ASA Gold & Precious Metals Ltd (NYSE: ASA), acquired a significant number of shares in the company. According to a filing with the Securities and Exchange Commission, Alexander bought 28,860 shares in two transactions. The purchase, which took place on January 8 and January 10, 2025, was executed at a price ranging from $ 21.66 to $ 22.09 per share, which is equivalent to an investment of approximately $ 634,719.
The transactions increased Alexander (NYSE: )'s direct ownership to 243,357 shares. In addition, Alexander owns 13,355 shares indirectly, under partner ownership. The move marks a strategic investment in ASA Gold & Precious Metals, a company known for its focus on gold and precious metals investments.
In other recent news, ASA Gold & Precious Metals Ltd has been in a strong position due to a series of developments. The company has adopted a shareholder rights plan to prevent two-way control and protect the interests of shareholders. The move comes as Saba Capital Management now owns about 17.18% of ASA's outstanding shares. The plan aims to prevent any entity, especially Saba Capital, from acquiring control without a reasonable fee as determined by the Board or Committee.
Moreover, the company is facing a management conflict between board members. The dispute involves two sets of directors, the new Directors and the Legacy Directors, both elected in April 2024. The details of the dispute remain undisclosed, however, both parties are working with separate legal counsel and seeking reimbursement for their legal fees as disclosed by the company. good bye
Finally, ASA Gold has shown strong performance with a 29% year-to-date return and has maintained consistent dividend payments for 18 consecutive years. Despite these recent developments, ASA continues to emphasize its openness to constructive engagement with Saba Capital and its commitment to shareholder value.
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