Let’s remember that, other than the elevation in JC, the only changes to the board were non-execs, those people who have (or should have) NO hands on responsibility in running the company. They have an overseeing, monitoring, advisory, checks and balance role ONLY
Quite frankly a storm in a tea cup other than the market needs to be fully informed/updated on an urgent basis as from the outside PAA must seem like it’s falling apart. It’s also good to remember the most recent announcement was drafted/approved by the “old” board. The new board need to get their hands on the wheel very soon with their follow up announcement
The cratering of the SP is understandable No pain no gain as they say in the classics. Now the new reconstituted board needs to step up and stop the bleeding with a full and thorough announcement on the management direction of the company to reassure the market.
As a top 30 holder I am very invested (financially) to see the new board (with hopefully the return of MT) succeed and the SP climb back to recent highs but understand the current changes require time to be bedded down and for the company to announce its new direction
Too many conspiracy theories and too much speculation, negativeness and market panic right now. Nothing has changed other than a few non-execs and potential but not unexpected delay in commencement of P2/3.
Hold tight or top up pussy cats
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