Saba files motion to invalidate ASA Limited poison pill
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 02 2025
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Court Ruling Against ASA's Poison Pill: Saba Capital Management has filed a motion to enforce a court ruling that invalidated ASA Limited's poison pill, which was deemed discriminatory and unlawful under the Investment Company Act of 1940.
ASA's Defiance of Court Decision: Despite the court's ruling, ASA issued an extension of the poison pill on March 31, directly contradicting the court's decision and raising concerns about the motivations of its board members.
Analyst Views on ASA
About ASA
ASA Gold and Precious Metals Limited is a non-diversified, closed-end investment company. The Company's investment objective is long-term capital appreciation primarily through investing in companies engaged in the exploration for, development of projects or mining of precious metals and minerals. The Company invests approximately 80% of its total assets in common shares or securities convertible into common shares of companies engaged, directly or indirectly, in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals; held as bullion or other direct forms of gold, silver, platinum or other precious minerals; in instruments representing interests in gold, silver, platinum or other precious minerals, and/or in securities of investment companies, including exchange traded funds, or other securities. The Company’s investment adviser is Merk Investments LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
