ASA Gold board dispute deepens; New Directors accuse Legacy Directors of entrenchment

ASA Gold & Precious Metals Ltd

New Directors Paul Kazarian and Ketu Desai allege Legacy Directors Mary Joan Hoene and William Donovan formed 'Sham Committees' to exclude them from board decisions.
Legacy Directors reject allegations, claim they acted in best interest of shareholders and compliance with Investment Company Act.
Dispute includes threat to 'hold up' 2025 AGM if New Directors do not agree to nominate Legacy Directors.
Referenced pending lawsuit: Saba Capital Master Fund, Ltd. v. ASA Gold and Precious Metals, Ltd. (No. 24-cv-690 SDNY).
Nominating Committee has not convened to consider director candidates for the 2025 AGM as of November 8, 2024.

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