TMR Timrite SPV Proprietary Limited (“TMR”), a wholly owned subsidiary of Thebe Investment Corporation (“TIC”), acquired a 70% stake in Timrite Proprietary Limited (“TR”) in August 2013 whilst management took up the remaining 30% through TTM Management Services Proprietary Limited (“TTM”). During the course of November 2016 TMR concluded a share buy-back transaction with TTM and acquired a further 17.5% of the shares with totaling 87.5%, TTM retaining the remaining 12.5%.