Supreme Court of Bermuda Extends Interim Injunction Restraining ASA and Two of its Directors – Mary Joan Hoene and William Donovan – From Unauthorized Use of Company Resources
NEW YORK--(BUSINESS WIRE)--Paul Kazarian, a member of the Board of Directors (the 'Board') of ASA Gold and Precious Metals Limited (NYSE: ASA) ('ASA' or the 'Company'), today announced that the Supreme Court of Bermuda (the 'Bermuda Court') has extended the interim injunction Order originally issued on May 8, 2025. The Order prohibits ASA and two of its sitting directors, Mary Joan Hoene and William Donovan, from using ASA resources to interfere with the Company's June 13 th Special General Meeting of Shareholders (the 'Special Meeting') and its 2025 Annual General Meeting of Shareholders.
Key Details of June 2 nd Bermuda Court Ruling:
In extending the May 8 th injunction, the Bermuda Court stated that ' the balance of justice favours the continuation of the temporary interlocutory injunction pending the conclusion of the [Special Meeting].'
The Bermuda Court concluded that it is ' arguable (to a high degree of likelihood of success) ' that Ms. Hoene and Mr. Donovan, acting as members of the Litigation Committee, did not have the authority to solicit proxies to oppose the shareholder resolutions proposed for consideration at the Special Meeting.
The Bermuda Court found that there is ' a serious issue to be tried in the pleaded claims made by [Mr. Kazarian] ' specific to whether the Litigation Committee had the lawful authority to conduct a proxy solicitation in the name of the Board to oppose the shareholder resolutions proposed for consideration at the Special Meeting.
The Bermuda Court also noted that ' if the Litigation Committee has no valid authority to take these steps, in circumstances where the Board is deadlocked, it is arguable that the conduct of the Litigation Committee has the result of excluding [Mr. Kazarian] from exercising his rights as a director ' to vote against the Board taking any position on the proposed shareholder resolutions.
Paul Kazarian, member of the ASA Board, commented:
'As an independent director of ASA, I was elected to serve as a watchdog for shareholders – a role I have taken incredibly seriously, particularly after witnessing Mary Joan Hoene and William Donovan abuse their positions on the Board. Over the past year, they have subjected shareholders to millions in expenses in an attempt to overturn the will of the shareholders they are supposed to protect.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level'
Steph Curry's house-of-brands conglomerate Thirty Ink generated $173.5 million in revenue in 2024, the company told CNBC on Wednesday. Thirty Ink owns Unanimous Media, Gentleman's Cut bourbon, and Underrated Golf and Basketball. However, the highest percentage of the company's revenue comes from Curry's partnership with Under Armour (NYSE:UAA, UA)). There, the NBA star is president of Curry Brand, a basketball and golf footwear and apparel line. As a part of the 2023 deal with the sportswear company, Curry was given 8.8 million common shares, which were valued at $75 million at the time. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . The company said that while it incurs annual expenses for using Curry's name, image, and likeness, it doesn't rack up traditional bottom-line operational costs, which allows for its exorbitant earnings. Thirty Ink's secretary chair, Suresh Singh, told CNBC that every brand under the company's umbrella is profitable. "It's completely unique. One of the big things, I believe, is that there's a lot of athlete- and celebrity-driven partnerships and businesses that aren't necessarily focused on profit, aren't necessarily focused on mission. We do both," he said. "Obviously, from a national perspective, a lot of the narrative is trying to peel back programs and opportunities that are programs and resources that are allowing people to have just a fair shot and a fair chance," Curry said in an interview with CNBC. "Everything that we do and what I can control is about true equity. If you look at all of our businesses — our DEI writers for Unanimous, or even looking at something like the Underrated brand — it's about creating true representation and opportunity from a grassroots level." Trending: Wall Street's Missing This AI Surgical Tech — You Don't Have To. "All that stuff is important to me. I want to actually walk the walk and live it. And hopefully that's an example for how our country should," he told CNBC. Thirty Ink's mission is to "elevate the under" according to its website, a goal that manifests differently for every brand. Unanimous Media co-founder and co-CEO Eric Peyton told CNBC that it looks like hiring diverse writers to create projects about family, faith and sports. "[Curry's] vision is to inspire through media," he said. It's really a feeling when you watch our projects, hopefully you're a little bit happier, you know, maybe it makes you feel a little bit better." Unanimous Media is currently four years into a first-look deal with Comcast's (NASDAQ:CMCSA) NBC Universal unit. Next year, it will release its first full-length feature film, "GOAT," with Sony Pictures Animation. With Gentlemen's Cut and Underrated Golf and Basketball, that mission expresses itself as a commitment to DEI. Gentlemen's Cut was in talks with a buyer who wanted to feature Black-owned businesses, in 2024. The Trump administration's crackdown on DEI squashed the deal, but it would have valued the business between $120 million and $200 million, a source told CNBC. Underrated Golf, according to the company's website, is specifically designed to give Black children an opportunity to participate in a sport that hasn't historically catered to them. Read Next: Invest where it hurts — and help millions heal:. Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? COMCAST (CMCSA): Free Stock Analysis Report This article Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Ibotta Announces a $100 Million Increase to Its Share Repurchase Program
DENVER, June 09, 2025--(BUSINESS WIRE)--Ibotta, Inc. (NYSE: IBTA), which operates the largest digital promotions network in North America, announced today that its Board of Directors has approved an increase to its share repurchase program, with authorization to purchase up to an additional aggregate of $100 million of the Company's Class A common stock (the "Share Repurchase Program"). The Share Repurchase Program has no expiration date. Repurchases under the Share Repurchase Program may be made from time to time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of shares of its Class A common stock under this authorization. The Company is not obligated under the Share Repurchase Program to acquire any particular amount of Class A common stock, and the Company may terminate or suspend the Share Repurchase Program at any time. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements relating to expectations concerning matters that are not historical facts may constitute forward-looking statements. When words such as "believe," "expect," "anticipate," "will," "outlook" or similar expressions are used, the Company is making forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give readers any assurance that such expectations will prove correct. These forward-looking statements involve risks, uncertainties and assumptions, including those related to the Company's relatively limited operating history, which makes it difficult to evaluate the Company's business and prospects, the demands and expectations of clients and the ability to attract and retain clients. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous factors, many of which are beyond the control of the Company. These and other factors are disclosed in the Company's reports filed from time to time with the Securities and Exchange Commission, available at Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof, except as required by law. About Ibotta ("I bought a...") Ibotta (NYSE: IBTA) is a leading performance marketing platform allowing brands to deliver digital promotions to over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $2.4 billion through the IPN since 2012. The largest tech IPO in history to come out of Colorado, Ibotta is headquartered in Denver, and is continually listed as a top place to work by The Denver Post and Inc. Magazine. View source version on Contacts Corporate CommunicationsHilary O'Byrne, Investor RelationsShalin Patel,
Yahoo
an hour ago
- Yahoo
2 No-Brainer Nuclear Stocks to Buy With $100 Right Now
The nuclear energy market will keep expanding for the foreseeable future. Cameco's uranium shipments will soar as that market expands. NuScale's SMRs could disrupt the market for traditional nuclear reactors. 10 stocks we like better than Cameco › Nuclear energy might not seem like a thrilling market for growth-oriented investors. It's dominated by slow-growth energy giants like Duke Energy and NextEra Energy, and the global nuclear power market might only expand at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2029, according to Markets and Markets. However, geopolitical conflicts in fossil fuel regions, green energy initiatives, and the expansion of power-hungry data centers for the cloud and AI markets are still constantly driving more countries and companies to invest in nuclear power. Investors can stick with slower-growth stalwarts like Duke or NextEra to profit from that secular trend -- but they can also nibble on some speculative plays in higher-growth niches of the nuclear energy market. Two of those speculative nuclear stocks are Cameco (NYSE: CCJ) and NuScale Power (NYSE: SMR). Both of these stocks might be risky short-term plays, but they could churn a tiny $100 investment into thousands of dollars over the next decade. Cameco is a Canadian miner that operates its mines and mills across Canada, the U.S., and Kazakhstan. It produced roughly 17% of the world's uranium in 2024, making it the second-largest uranium miner after Kazakhstan's Kazatomprom. In late 2023, Cameco partnered with the infrastructure investment firm Brookfield Asset Management to acquire Westinghouse Electric -- a key designer, builder, and supplier of nuclear power plants. Cameco now owns 49% of Westinghouse Electric, while Brookfield owns the remaining 51%. That stake should reduce Cameco's volatility by generating more stable returns than its cyclical uranium business, and it should make it the preferred uranium supplier for Westinghouse's nuclear power plants. But like other miners, Cameco's growth is still tightly pinned to the price of its underlying commodity. Uranium currently has a spot price of roughly $70, but Bank of America expects its price to double to $140 in 2027. A lot of that growth should be fueled by the soaring energy needs of the cloud and AI markets. From 2024 to 2027, analysts expect Cameco's revenue and earning per share to grow at a CAGR of 8% and 85%, respectively, as uranium prices keep rising. It might not seem cheap at 63 times forward earnings, but its consistent growth and pricing power could justify that higher valuation. NuScale is a leading producer of small module reactors (SMRs) that are prefabricated, delivered, and assembled on site. That modular approach makes it easier to build nuclear power plants in areas that aren't suited for bigger plants, and it's generally cheaper and requires less time than constructing a new plant from the ground up. NuScale's SMRs can be installed in vessels that are only 15 feet in diameter and 65 feet tall, and they're the only SMR designs that have received a standard design approval from the U.S. Nuclear Regulatory Commission (NRC). Its initial approval only covered its reactor modules, which generate up to 50 megawatts of electricity, but it needs each module to generate at least 77 megawatts of electricity to be more cost-effective than a comparable coal-fired plant. That's why NuScale's stock recently soared after the NRC finally approved its first 77-megawatt design -- which should clear the way for its expansion in the U.S. market. For now, NuScale still generates most of its revenue as a subcontractor for a 462-megawatt power plant project for Romania's RoPower. But over the next few years, its revenue could surge as it launches its first plants within the United States. From 2024 to 2027, analysts expect its revenue to increase at a CAGR of 118% as more companies -- especially those in the data center market -- install more SMRs to power their latest cloud and AI applications. NuScale isn't profitable yet, and its stock isn't cheap at 11 times its estimated sales for 2027. However, it could grow a lot faster over the next decade as SMRs reshape the nuclear power market, so it seems like a great stock for a speculative $100 investment. Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cameco wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bank of America is an advertising partner of Motley Fool Money. Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America and NextEra Energy. The Motley Fool recommends Brookfield Asset Management, Cameco, Duke Energy, and NuScale Power. The Motley Fool has a disclosure policy. 2 No-Brainer Nuclear Stocks to Buy With $100 Right Now was originally published by The Motley Fool
