BTB Real Estate Investment Trust T.BTB.DB.G

Demand Letter received today from BTB REIT CEO's Lawyer...

[b919191]

...Apparently, he believes my proposals are invalid and represent some sort of personal attack.

Why don't you be the judge, the link to the full letter on dropbox: https://tinyurl.com/3wpkr4tm -

If anyone would like to indicate their views on the proposals, to help me make the case that they are sensible, feel free to share your thoughts. As a reminder, in a nutshell, the proposals are:


Proposal 1
Independent investigation of BTB Governance and Human Resource (‘GHR’) committee to establish how material mis-statements appeared in past management information circulars;

Proposal 2
Change in focus of GHR to reward management for long-term performance instead of short- term performance;

Proposal 3
Binding annual vote on adequacy of compensation offered to BTB leadership (‘Say-on-Pay’) with predetermined consequences for results below certain thresholds;

Proposal 4
Mandatory abstention from voting on any proposal by BTB leadership members having a personal interest in the proposal being voted upon (for the avoidance of doubt, the Proposals are all considered to fall in this category);



Proposal 5

Prohibition from serving on any other board for BTB trustees, unless such a role is pro bono, uncompensated and related reimbursed expenses do not exceed CAD$5,000 annually.

 

I also asked that any family relationships between NEOs and employees of BTB be disclosed should they exceed marginal amounts.