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ASA Limited Announces Results of Tender Offer Measurement Period

^{Published on 2010-07-26 06:40:31 - Market Wire}
 

SAN MATEO, Calif.--([ BUSINESS WIRE ])--ASA Limited (NYSE: ASA), a closed-end fund that invests in gold and other precious mineral investments worldwide, today announced the results of the contingent tender offer measurement period ended July 23, 2010.

Pursuant to the tender offer program announced on March 31, 2008, the Company committed to conduct a cash tender offer for 10% of its outstanding shares at a price of 98% of NAV in fiscal year 2010 if its shares traded on the New York Stock Exchange (NYSE) during a 12-week measurement period as determined by the board of directors at an average discount to net asset value (NAV) of more than 10% measured on the last trading day of each week during the measurement period. For the 12-week measurement period ended July 23, 2010, the Companya™s shares traded at an average weekly discount to NAV of 8.3%. Consequently, the Company will not conduct a tender offer in its 2010 fiscal year. The board of directors will continue to monitor carefully the movement of the Companya™s share price against its NAV.

Investors are encouraged to visit the Companya™s website for additional information, including historical and current stock and metals prices, news releases, financial statements and supplementary information. The site may be found at [ www.asaltd.com ] or investors may contact the Company directly at (800) 432-3378.