Ann: Investor Presentation and Non-Deal Roadshow, page-12

Wow...that certainly set the cat among the pigeons.. and while I agree in principle with most of your post I think its worthwhile adding:
1. We have seen "considerable" change in the BoD structure since MT came on board; (i) MT replaced Roger as CEO, (ii) Roger transitioned to Non-Executive Chairman, (iii) Bishop from Executive to Non-Executive and (iv) Duffy appointed a a new Non-Executive director,
2. Strengthening of the management team with the appointment of MT as CEO, Clark as COO and Dr Worth as CMC Operations Manager
3. Launching of the PAA interactive Investor Hub
4. Options offer to existing listed option holders (>90% take up)
5. Recent placement effected at a premium with the Merchant Biotech Fund a major subscriber

I haven't mentioned the current developments related to FDA feedback, ODD approval, pre-IND meeting etc etc but this comment from MT is telling and encapsulates the significant progress in the last 5 months or so..."Incredible to think that when I first joined the company 5 months ago we were just focused on closing out the Phase 1 MEND Study and generating the results. Now that focus has shifted to getting the drug approved. Wow!"
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So coming back to @ThePig 's post I would suggest MT and his "support base" are essentially changing PAA's whole culture and focus through (i) changes/make-up to the BoD and management, (ii) upgrade of the marketing and promotional support team (iii) re-establishing shareholder respect and belief in PAA through open, regular and clear communications and timelines.

To conclude my belief is that this is not the time for SH or other stakeholders to force additional and drastic changes on the BoD or management given the substantial progress made under MT's guidance and as stated by him...... "Wow" .... an appropriate acclamation for the progress