ASA adopts limited-duration shareholder rights plan to block Saba creeping control

ASA Gold & Precious Metals Ltd

Rights plan triggered if any person acquires 15%+ of ASA common shares; expires April 18, 2025.
Saba Capital, holding 17.18%, is grandfathered but cannot buy additional 0.25% without triggering plan.
Each right entitles holder to purchase one common share at $1.00 upon triggering, subject to adjustment.
Plan adopted amid ongoing proxy fight with Saba; pending litigation in Southern District of New York.
Committee composed of Legacy Directors; New Directors appointed by Saba have not proposed value-enhancing ideas.

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