Saba Capital Proposes Management Transaction with ASA Gold and Precious Metals Limited (31.91% stake)

On May 14, 2026, Saba Capital Management, L.P., led by Boaz R. Weinstein, filed an amendment to its Schedule 13D regarding its significant stake in ASA Gold and Precious Metals Limited (ASA). The reporting persons currently hold 5,903,701 common shares, representing approximately 31.91% of the company's outstanding stock. This filing, Amendment No. 24, highlights a non-binding proposal submitted by Saba Capital to the Issuer's Board on May 13, 2026. The proposal expresses interest in a potential transaction and outlines a management and incentive fee structure consistent with U.S.-listed Business Development Companies (BDCs), including significant initial fee waivers. Saba Capital's total investment in the shares is approximately $173.3 million. The firm intends to continue active engagement with the Issuer's Special Committee and advisors regarding this potential transaction. No transactions in the common shares were reported within the sixty days preceding this filing.