ASA Gold adopts limited-duration rights plan after Saba Capital accumulates 16.87% stake

ASA Gold & Precious Metals Ltd

Rights plan effective Dec 31, 2023; expires April 29, 2024; triggered at 15% ownership.
Saba Capital grandfathered at 16.87% but cannot acquire additional 0.25% without triggering plan.
Each right entitles holder to buy one share at $1.00, exercisable if trigger occurs.
Record date for rights dividend is Jan 12, 2024; rights initially trade with common shares.
Plan designed to prevent creeping control and protect long-term shareholder value.

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