BTB Real Estate Investment Trust BTBIF

RE:Stephanie Leonard, BTB REIT CEO's daughter...

[Smokey1958]

First of all let me applaud your perseverance and due diligence in attempting to bring to light the concerns you have. Unfortunately in this instance, unless I'm misreading and misinterpreting, your sources don't support your concern.

The first is the (ir)relevant document concerning conflict of interest. That document is a government document created to ensure that government officers and employees understand the parameters of conflict of interest. It has nothing to do with conflict of interest within a publicly run company. Apologies if I am incorrect in my observation.

The second document you present, dealing with disclosure, is governed by an American regulatory body that may have unique differences to those that apply in Canada.

While there may be an ethical reason for disclosing the compensation paid to Ms. Leonard for the reasons you provide ...there does not appear to be any regulatory reason to do so. Having said that it is quite clear in reading correspondence from the company as to her role ie she is listed as a participant in conference calls (these include her title). She is also listed on SEDI and other notable platforms when receiving, buying or dispensing of shares. It doesn't look to me like something nefarious is happening at least in this regard.

In this instance you appear to have fallen into the trap of bias in your efforts to support your more general opinion/concern. While there may be legitimate concerns as to how the company more broadly organizes their governance and compensation I'm not sure the role Ms. Leonard plays in the company is connected.

GLTY!!!