Corporate action, page-117

Wonderful stuff.

I wrote the text below earlier today, awaiting a final edit tonight.
It was a call to arms, and your recent post highlights exactly the same pathways forward,
but does have a timeline specification due to PAA's perpetual cone of silence responses.
Great work! And much appreciated!!
Cheers,
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —

To me, it feels like a power and control issue, with (one too many of) numerous constraints coming from a staid and righteous BOD wanting their defined and directed approach; and placing reins, and chains, on a dynamic, forward-thinking CEO prepared to explore all options across many boundaries, acting with a clarity of purpose to progress and agitate for the best possible SH outcomes, for the greatest possible information awareness within the FDA environment, for the highest possible level of BP buyout price, and for all MND sufferers.

As an oversimplification, I suspect the conservative old bull has been in stand-off with the entrepreneurial young gun. And that’s where it feels like it got personal. We don’t know, and we may never know that level of detail; and in fact I do not want to know that level of detail. I want resolution.

As a top 100 SH, my interests do not coincide with the current BOD; and with neither their history of determinations, directions and poor decision-making, nor their appalling silence and current practices of shutting down communications to shareholders, do I have confidence in their capacities

I do favour an early resolution that involves the re-instatement of MT.

I am in favour of board regeneration through a managed transition, but if we don’t see changes soon, I will support a measured and more radical surgical intervention, AND the re-instatement of MT as the obvious leader to move PAA forward. (PS It can’t be called mutiny, when the BOD have already jettisoned the captain of the ship. And I do not collectively regard the current BOD, as the proper authorities to guide the vessel anywhere, except in circles.)

Through the actions of the current BOD, or by their inaction, the board has the ultimate responsibility to resolve this situation. Given their historical and current bunker mentality, I suggest a deadline of COB Friday — more than ample time for a professional board response already overdue — with a precise judgement on the state of play at that point in time, to initiate an organised shareholder response.

Cheers,
Rick

— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —