Saba Capital Announces Final Voting Results of Special Meeting of ASA Gold and Precious Metals Shareholders
ASA Shareholders Vote to Expand Board to Five Members and to Elect Independent Governance Expert Maryann Bruce
NEW YORK, June 17, 2025--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, "Saba"), the largest common shareholder of ASA Gold and Precious Metals Limited (NYSE: ASA) ("ASA" or the "Fund") with 17.2% ownership of the Fund's outstanding shares, today announced the final certified voting results of the Fund's Special Meeting of Shareholders (the "Special Meeting") held on June 13, 2025. The final voting results of the Special Meeting confirm that shareholders voted to expand ASA's Board of Directors (the "Board") to five members and to elect independent candidate Maryann Bruce as the fifth director.
The five-member Board is now composed of Maryann Bruce, Ketu Desai, William Donovan, Mary Joan Hoene and Paul Kazarian. The Board will serve until the 2025 Annual Meeting of Shareholders, at which time shareholders will vote on the composition of the entire Board.
The final voting results have been certified by the independent Inspector of Elections.
About Saba Capital
Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250617904588/en/
Contacts
Longacre Square PartnersKate Sylvester, 646-386-0091ksylvester@longacresquare.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
37 minutes ago
- New York Times
U.S. Bombing of Iran Keeps Oil Markets on Edge
If the United States had acted a couple of decades ago to bomb Iran's nuclear weapons program, as it did on Saturday, oil prices would have soared. But even though prices might jump when trading resumes this week, the longer-term effect is far less clear. Oil traders must weigh whether the American attack will lead to wider fighting that harms exports from the Persian Gulf, said Muyu Xu, senior Asia crude oil analyst at Kpler, a global commodities and shipping data firm. Wider fighting could drive up prices if oil-loading facilities are damaged or tanker traffic is interrupted. There have been no major disruptions so far since the Israel-Iran conflict escalated this month, though Israel's air attacks did set fire to a refinery and refined products depot supplying Tehran. 'Until now, we haven't seen a single barrel removed from the market,' Ms. Xu said. Military action by Iran to interrupt the flow of oil would mostly harm China, which is closely aligned with Iran and buys nearly all of Iran's oil exports. Oil prices have risen about 10 percent since the recent eruption of hostilities, which began with a surprise attack on Iran by Israel on June 13. They fell on Friday after President Trump said he would decide within two weeks whether to enter the war against Iran. Ever since the Iranian Revolution in 1979, American policymakers worried that Iran might act against the United States by using mines or missiles to block tanker traffic through the Strait of Hormuz. The strait is the entrance to the Persian Gulf, through which a sixth of the world's oil moves on tankers, and the northern side of the strait is Iran's coastline. China buys a third of all oil coming out of the gulf, according to Kpler's data, and helped broker a rapprochement two years ago between Iran and Saudi Arabia, another big exporter of oil from the Persian Gulf. By contrast, the United States buys less than 3 percent of the oil coming out of the Persian Gulf, notably from northern Saudi Arabia. The United States became an overall net exporter of oil in 2020 as fracking technologies enabled a big increase in domestic oil production. Iran's oil exports have declined steeply in recent years, although there was a partial rebound last year as China stepped up purchases from Iran following the rapprochement with Saudi Arabia. The United States and Europe have imposed broad prohibitions on the purchases of Iran's oil so as to pressure Tehran to abandon its nuclear weapons program. China has bought Iran's exports at a deep discount to world prices. Beijing leaders have long contended that the sanctions against Iran are not binding on China because the United Nations has not endorsed them. Even more unclear is what could happen to Iran's oil long-term oil exports. The sanctions that have curtailed much of Iran's exports were aimed at forcing it to stop developing nuclear weapons.
Yahoo
an hour ago
- Yahoo
Oil Prices Poised to Soar After U.S. Attacks Iran Facilities
In a dramatic escalation of Middle East tensions, the United States launched targeted strikes on three Iranian nuclear facilities—Natanz, Isfahan, and Fordo—late Saturday, prompting fears of soaring oil prices, market volatility, and a deepening U.S. role in the region's conflict. President Donald Trump, announcing the attack on Truth Social and in a televised address, hailed it as a 'spectacular military success,' claiming Iran's 'key nuclear enrichment facilities have been completely and totally obliterated.' The move has drawn sharp reactions from global markets, U.S. lawmakers, and Iran, raising questions about the conflict's trajectory. The strikes, involving B-2 stealth bombers and Tomahawk cruise missiles, targeted Iran's nuclear infrastructure, with Trump warning Tehran to seek peace or face further attacks. Iranian state media acknowledged damage to parts of the Fordo site but downplayed the extent. Foreign Minister Seyed Abbas Araghchi condemned the strikes as 'outrageous' and reserved 'all options' to defend Iran's sovereignty. Iran's Atomic Energy Organisation called the assault 'savage' and criticized the International Atomic Energy Agency for complicity. In retaliation, Iran fired missiles at Israel, with blasts reported over Jerusalem, signaling a potential widening of the conflict. Global markets are bracing for impact as trading resumes. Investors predict a 'knee-jerk' reaction, with oil prices expected to spike due to fears of disrupted Middle East supplies. Brent crude, already up 20% over the past month to $79.04, could climb toward $130 per barrel in a worst-case scenario, according to JPMorgan. [Brent crude oil futures] 'Oil will open higher,' said Mark Spindel of Potomac River Capital, noting uncertainty over Iran's response and damage assessments. Rising inflation could erode consumer confidence and reduce prospects for U.S. interest rate cuts, complicating an economy strained by Trump's tariffs. The U.S. involvement has intensified the Iran-Israel conflict, drawing mixed reactions domestically. Republican Senator Mitch McConnell praised Trump's 'decisive action,' arguing it counters Tehran's aggression. However, Democrats, including Congresswoman Alexandria Ocasio-Cortez, condemned the strikes as a 'grave violation' of constitutional war powers, calling them 'grounds for impeachment." Congressman Jim McGovern labeled the move 'insane,' warning of another 'open-ended' war. The political divide underscores Trump's gamble, which risks backlash from his 'America First' base, wary of foreign entanglements. Analysts see broader implications. Jamie Cox of Harris Financial Group suggested Iran, stripped of nuclear leverage, might seek a peace deal, potentially stabilizing oil prices after an initial surge. However, Oxford Economics warns that a severe escalation, like a Strait of Hormuz closure, could devastate global markets. Historically, Middle East conflicts have caused short-term equity dips, with the S&P 500 recovering within months, but the dollar could see a temporary safe-haven boost. As Iran weighs its response and markets prepare for turbulence, Trump's strikes have thrust the U.S. into a volatile conflict, with economic and political consequences hanging in the balance. The world awaits Tehran's next move and the Pentagon's forthcoming damage assessment, set for Sunday, to gauge the path toward peace or further chaos. By MIchael Kern for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
South Korea to raise concerns to US over potential curbs on chipmakers' China operations
SEOUL (Reuters) -South Korea's top trade negotiator said on Sunday he would raise concerns about potential U.S. restrictions on chipmakers in China when he meets U.S. officials in Washington this week for the third round of technical discussions in tariff talks. "I will pass on the concerns among those in the industry and take utmost care," South Korean Trade Minister Yeo Han-koo told reporters before leaving for Washington, when asked to comment about concerns the U.S. may adopt policies to make it difficult for foreign chipmakers to operate in China. Yeo also said Seoul may not stick to the July deadline, suggesting talks may continue beyond July 8 amid political and economic uncertainties in the U.S. South Korea, currently subject to a blanket 10% tariff with a 25% country-specific duty on pause for 90 days, agreed with the U.S. in their opening round of trade talks in late April to craft a trade deal reducing tariffs by July 8. Yeo was appointed to the role this month by President Lee Jae Myung, who won a snap election on June 3 and said during his campaign that there was no need to rush into a trade agreement with the United States. On Sunday, Yeo added he would reach out to officials at the White House and the U.S. Congress to discuss various trade issues, including Washington's request for South Korea to loosen rules on imports of U.S. beef.
