RE: PPP21 May 2026 09:21
Here you go hepran, saved you some time and put your question into chat for you...here is the answer.
You can support the board strongly while holding the stock — and many shareholders do. Your point is essentially the “stability/support” argument:
a suspended or distressed company needs management backing,
repeated attacks on directors can damage confidence,
lenders/advisers/FCA may look for shareholder unity,
and hostile internal conflict can impair recovery.
That is a real argument.
But the counterpoint is that shareholders own the company; the board merely manages it on shareholders’ behalf. So some investors separate:
1. the underlying assets/opportunity, from
2. the current stewards of those assets.
Examples where this distinction commonly happens:
A company may own valuable licences/assets/projects, but shareholders believe management is weak or dilutive.
Shareholders may believe:
the board made poor financing choices,
disclosed information inadequately,
overpaid executives,
mishandled governance,
or destroyed value through dilution, while still believing the business itself could succeed under different leadership.
Activist investing is built on this exact principle: “the company is worth supporting, but the board needs changing.”
This is extremely common in distressed small caps and AIM stocks.
For example, a shareholder might think:
> “I want PPP relisted and successful, but I oppose certain directors, funding structures, or past conduct.”
That is not logically inconsistent.
Equally, another shareholder may think:
> “Public criticism now harms recovery and the board deserves support until relisting.”
Also a coherent position.
The key point: Owning shares does not create a duty of loyalty to directors. Legally and structurally, boards are accountable to shareholders, not the other way around.
Voting rights exist partly because shareholders may:
support management,
oppose management,
selectively support some resolutions,
reject others,
or try to replace directors entirely.
So your view — that the board may currently need strong support — is one governance philosophy. But it is not the only one shareholders can reasonably hold.