Bermuda Court Extends Injunction Against ASA Gold and Precious Metals Directors Over Unauthorized Use of Resources

Reuters

2025/06/05

Bermuda Court Extends Injunction Against ASA Gold and Precious Metals Directors Over Unauthorized Use of Resources

The Supreme Court of Bermuda has extended an interim injunction against ASA Gold and Precious Metals Limited and two of its directors, Mary Joan Hoene and William Donovan. The court order, originally issued on May 8, 2025, prevents the company and the directors from using ASA's resources to interfere with the upcoming Special General Meeting of Shareholders on June 13th and the 2025 Annual General Meeting. The court found substantial issues regarding the authority of the Litigation Committee, led by Hoene and Donovan, to solicit proxies opposing proposed shareholder resolutions. The injunction will remain in place pending the conclusion of the Special Meeting. Paul Kazarian, a member of the ASA Board, expressed concerns over the directors' actions, citing significant expenses incurred in their attempts to challenge shareholder interests.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ASA Gold and Precious Metals Limited published the original content used to generate this news brief via Business Wire (Ref. ID: 20250604052554) on June 05, 2025, and is solely responsible for the information contained therein.

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The court order, originally issued on May 8, 2025, prevents the company and the directors from using ASA's resources to interfere with the upcoming Special General Meeting of Shareholders on June 13th and the 2025 Annual General Meeting. The court found substantial issues regarding the authority of the Litigation Committee, led by Hoene and Donovan, to solicit proxies opposing proposed shareholder resolutions. The injunction will remain in place pending the conclusion of the Special Meeting. Paul Kazarian, a member of the ASA Board, expressed concerns over the directors' actions, citing significant expenses incurred in their attempts to challenge shareholder interests.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ASA Gold and Precious Metals Limited published the original content used to generate this news brief via Business Wire (Ref. ID: 20250604052554) on June 05, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ASA","symbol_name":"ASA百慕大基金","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250605:nNDL69jL2n:1","article_id":"2541090207","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541090207","pubTimestamp":1749083114,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"The Supreme Court of Bermuda has extended an interim injunction against ASA Gold and Precious Metals Limited and two of its directors, Mary Joan Hoene and William Donovan. 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The court order, originally issued on May 8, 2025, prevents the company and the directors from using ASA's resources to interfere with the upcoming Special General Meeting of Shareholders on June 13th and the 2025 Annual General Meeting. The court found substantial issues regarding the authority of the Litigation Committee, led by Hoene and Donovan, to solicit proxies opposing proposed shareholder resolutions. The injunction will remain in place pending the conclusion of the Special Meeting. Paul Kazarian, a member of the ASA Board, expressed concerns over the directors' actions, citing significant expenses incurred in their attempts to challenge shareholder interests.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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