ASA Limited (NYSE:ASA), a closed-end fund specializing in gold and other
precious mineral investments, today announced that its Board of
Directors has fixed the 12-week period commencing April 6, 2009 as the
measurement period for the purpose of determining whether the Company
will conduct a tender offer for its common shares in its fiscal year
ending November 30, 2009.
Pursuant to the tender offer program announced on March 31, 2008, the
Company will conduct cash tender offers in fiscal years 2009 and 2010,
if its shares have traded on the New York Stock Exchange (NYSE) during a
12-week measurement period in each year at an average discount from net
asset value (NAV) of greater than 10%, determined on the basis of the
average of the discounts as of the close of the NYSE on the last trading
day in each week. The Board of Directors, in its discretion, designates
the commencement date of the 12-week measurement period. Each tender
offer would be for 10% of the Company’s outstanding shares at a purchase
price of 98% of NAV.
This announcement is not an offer to purchase or the solicitation of an
offer to sell shares of the Company.
ASA Limited
David J. Christensen
President
and Chief Executive Officer
(800) 432-3378 or (716) 883-2428
or
Julian
Reid
Chairman of the Board
+44-7768 068 200
