What is the purpose of this site?
This site is intended to inform shareholders of ASA Gold and Precious Metals Ltd. about important governance developments and how they can stay involved. It is maintained by Axel Merk in his personal capacity as a shareholder.
What is ASA?
ASA Gold and Precious Metals Limited (“ASA”) is a Bermuda-based, closed-end investment fund focused on companies involved in the exploration, development, or mining of precious metals and minerals. Founded in 1958, ASA is one of the longest-standing funds in the sector and is registered with the U.S. Securities and Exchange Commission.
What is a shareholder requisition?
A shareholder requisition is a formal demand by shareholders for the company to take a specific action, such as holding a special meeting or placing nominees on the ballot for an annual meeting.
Why is 5% important?
Under Bermuda law (ASA is incorporated in Bermuda), shareholders who collectively own at least 5% of ASA’s outstanding shares may formally request that nominees be included on the ballot for the next annual general meeting.
Why is 10% important?
Shareholders who collectively own at least 10% of shares can demand that ASA call a special meeting. This can be necessary if the board is unable or unwilling to agree on holding a timely annual meeting.
Who is Axel Merk?
This website is run by Axel Merk in his personal capacity as a shareholder of ASA. Together with his wife, he holds 317,660 shares (1.68% of shares outstanding as of April 3, 2025). He also serves as President of Merk Investments LLC, ASA’s investment adviser, and as ASA’s Chief Operating Officer.
What is Saba’s role in all of this?
Saba Capital Management L.P. (“Saba”) is a shareholder in ASA and has submitted a demand for a special meeting to add a fifth director to the board. Saba previously gained two board seats through a 2024 proxy contest.
You can read more about Saba’s conduct here.
What is the special meeting Saba has called, and how should shareholders respond?
Saba Capital has demanded a special meeting to add a fifth director to ASA’s Board—potentially giving Saba a controlling majority.
Shareholders are strongly encouraged to vote NO on Saba’s proposal.
Adding another Saba-backed director would undermine shareholder choice and risk repurposing ASA’s investment focus away from precious metals.
Please register today to stay engaged and help protect ASA’s future.
Where can I get more information?
Submit a question or call (408) 475-0186 for more information or context.
This is a proxy solicitation by shareholder Axel Merk, made solely in his individual capacity. It is not part of a formal solicitation by any other shareholder or group. Shareholders are encouraged to review all filings related to ASA Gold and Precious Metals Limited at sec.gov, including any future proxy materials, as they become available. These filings contain important information relevant to upcoming shareholder decisions.
Saba is seeking board control through a special meeting to add a fifth director. Shareholders are encouraged to vote NO to protect ASA’s mandate.
This is a proxy solicitation by shareholder Axel Merk, made solely in his individual capacity. It is not part of a solicitation by ASA Gold and Precious Metals Limited, or any other shareholder, or group.
SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Shareholders may obtain the documents free of charge at the SEC's website, http://www.sec.gov.
PLEASE READ THE PROXY STATEMENT CAREFULLY BEFORE MAKING A DECISION CONCERNING THE PROPOSALS.
The information presented on this website reflects the views and opinions of Axel Merk and is provided solely for educational and informational purposes. It does not constitute investment, legal, financial, or tax advice. You should consult your own advisors for guidance specific to your circumstances.
This site and its content have not been approved by ASA Gold & Precious Metals Ltd. (the “Company”). The Company concentrates its investments in the gold and precious minerals sector, which may be more volatile than other industries and influenced by changes in commodity prices driven by international economic and political developments. The Company is a non-diversified fund, which may result in higher risk through reduced portfolio diversification. It may also invest in smaller-sized and foreign companies, which may be more volatile, less liquid, and subject to additional risks, including currency fluctuations. Shares of closed-end funds like ASA frequently trade at a discount to net asset value.
This website may include forward-looking statements that reflect the current expectations, estimates, beliefs, and projections of Axel Merk. These statements are inherently subject to risks and uncertainties, many of which are beyond the control of the author. Actual outcomes may differ materially from those discussed. Forward-looking statements can often be identified by words such as “believe,” “expect,” “intend,” “may,” “will,” “should,” or similar expressions. These statements speak only as of the date made, and there is no obligation to update or revise them in light of future developments.
Nothing on this website constitutes an offer to sell, or a solicitation of an offer to buy, any securities.
Certain links may direct users to third-party websites or filings with the U.S. Securities and Exchange Commission (SEC). These materials are provided solely for convenience and informational purposes and are not incorporated by reference into any proxy materials. No responsibility is taken for the accuracy or content of third-party sources.
