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

ASA Gold & Precious Metals Ltd

Rights plan expires Dec 20, 2024; triggered when a holder buys 15%+ of shares.
Saba Capital owns ~17.02% of ASA; grandfathered but cannot buy additional 0.25%+.
If triggered, non-acquiring holders can buy one share for $1 or exchange rights for shares.
Saba sued ASA over prior rights plans; case pending in Southern District of New York.
Board currently has 2 Saba-proposed directors and 2 prior Board directors.

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