ASA Gold adopts limited-duration shareholder rights plan after Saba Capital accumulates ~16.9% stake

ASA Gold & Precious Metals Ltd

Board unanimously adopted rights plan effective April 26, 2024, expiring August 23, 2024.
Trigger at 15% beneficial ownership; Saba Capital grandfathered at ~16.87% but cannot acquire additional 0.25% or more.
Each right entitles holder to buy one share at $1.00 upon trigger, or exchange on cashless basis for one share.
Plan designed to prevent creeping control by Saba and protect long-term value for all shareholders.
Rights distribution record date is May 9, 2024; rights initially trade with common shares.

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