ASA Gold and Precious Metals COO Axel Merk resigns immediately

ASA Gold and Precious Metals Limited (NYSE: ASA) announced that Chief Operating Officer Axel Merk resigned from his position effective immediately.

Merk submitted his resignation letter to the board of directors without prior notice and simultaneously announced his departure through a separate press release that included a copy of his resignation letter. In the letter, Merk expressed concerns about what he described as potential risks to the fund's control environment.

The fund disputed Merk's characterization, stating that its control environment remains sound. The board said it takes governance responsibilities seriously and will work to ensure operational continuity during any management transitions.

ASA Gold and Precious Metals Limited is a closed-end management investment company that trades on the New York Stock Exchange. The board indicated it will provide updates on potential transitions as appropriate.

The fund's statement was based on information provided in a company press release.

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