ASA Gold and Precious Metals Says Board Approves Proposed BDC Conversion

09:10 AM EDT, 09/04/2026 (MT Newswires) -- ASA Gold and Precious Metals (ASA) said Friday that its board approved a proposal to convert the company to a business development company with a yield-oriented, credit-focused strategy. The board also voted to redomicile the company to Delaware from Bermuda, appoint Saba Capital Management as investment manager and transition its US federal tax status to a regulated investment company from a passive foreign investment company, ASA Gold said. The conversion requires shareholder approval of a new investment advisory agreement with Saba and elimination of ASA's fundamental gold-focused investment policy, the company said. If approved, the conversion is expected to occur by year-end, ASA Gold added.