Work happening -- Good to hear!!
I agree.
There were necessary actions taken and this is a temporary situation.
Changes like those we have witnessed only come about when the numbers are sufficient to enforce those changes.
The consistent views for change of many of the very top holders has been fully supported by numerous shareholders right across the top 100, 200 and 300.
The numbers were big. The old guard knows how to count.
And the old guard departs only when the writing of the immediate future is clearly and unmistakably written on the walls of their offices wherever they are in the world.
This was a popular rebellion by an overwhelming majority of the shareholders.
In sufficient numbers to create a formal spill, if and when necessary.
The numbers were more than were needed. The old board knew they were done, and they knew it was time to go.
As to the SP, I expected that a considerable section of the personal supporters of the old guard — the Rogerphile & Robertphile cohorts of personal friends, relatives and science colleagues, — who held PAA shares, to dump them unceremoniously in the belief that their world was ending; that the tsunami of unknown proportions was coming; PAA was stuffed; and that the ship would definitely sink without them at the helm.
That stress-event dumping was always going to happen - obviously Roger & Robert have been the entrenched mainstays for a very long time and built a solid network of supporters. It would be unthinkable for those supporters, out of loyalty and friendship (and out of perceived fear) to keep holding their shares. Add to that, the brokers’ requirements to keep their margins intact when major, or unexpected, management changes occur; and there will be a resulting dump. And that has happened. On paper. Temporarily.
However, the big picture clearly shows that: repairs are underway, and the ship remains completely intact.
Personnel changes to support John as MD are being organised, and I look forward to that with a sense of genuine calm. The ship may be out of radio range over the weekend, and it may have one, exactly one, truly insignificant tech issue, but the very important patents, contracts, and MPL products are safely secured in the vault; the weather is improving; the fundamentals have not changed; and the next major catalysts are very close at hand.
Sure, the blue skies aren’t there yet, and the prophets of doom and gloom are out loudly banging the drums, questioning every mouse fart as a sign of evil portent; with a couple baying for blood, and a couple are howling for blame and for inquisition at the webinar. But I for one am not interested in the gossip of who said what to whom and when, nor interested at all to poke around to find any entrails still twitching. I would prefer a firm and precise ’No comment’ from John on any matters of personal clashes or personality differences within the old board. There is a level of detail in board matters that we do not have a right to know as shareholders.
Instead, I have a very measured excitement about what’s happening in the very near future and have added a significant chunk to the shareholding, and quite frankly, there is more being added - not because it is brave @Quiltman 
- but because it makes clear and obvious financial sense to me.
I also expect to see considerable movements within the top PAA SH lists when they next get published. And I am far more curious in a business sense to review the top 20 movements. I’m looking forward to seeing that precise detail. And expecting progress on all fronts.
Accumulating, patiently,
Ice
(20min delay)
