Background and Ownership

TMT started in 2002 when Douglas Davey (a civil engineer specializing in traffic technology) joined with Johan du Toit (a Traffic Chief) and Neil Louwrens (a State Advocate) to start the business. All three still hold senior positions in TMT today and remain shareholders. Their shares are held through family trusts (Zoey Trust, Gelaman Trust and the DT Transfin Trust) which they control.

In 2004 these three original shareholders sold 51% of TMT shares to Matemeku, which is controlled by Moss Mashishi, a well known businessman based in Johannesburg. The sale to Matemeku was part of TMT’s drive to achieve black economic empowerment credentials and to bring new business expertise into the company.

In 2007 TMT entered into a joint venture with KapschTrafficom to explore tolling opportunities in South Africa. KapschTrafficom is an Austrian company who are world leaders in the supply and operation of electronic tolling systems. KapschTrafficom is a large, long established company and its shares are listed on the Vienna stock exchange. In order to tender for tolling opportunities in South Africa, TMT and KapschTrafficom formed a company called Electronic Toll Collection (Pty) Ltd (“ETC”). KapschTrafficom owns 65% of the shares in ETC and TMT has 35%. This company was used to tender to SANRAL for the design, build and operations of the Gauteng Open Road Tolling (GORT) contract, in competition with several large international consortiums. ETC was successful in this tender process and was awarded the contract in late 2009.

The design and build element of the GORT contract was sub-contracted by ETC to its shareholders. TMT was tasked to build one third of the GORT system, a sizeable task for TMT which was at that time still quite a small company. The only way TMT could finance the build was to raise more capital. After exploring many local avenues without success, it was decided that the best way of doing this was to have KapschTrafficom invest in TMT, which it did in April 2010. In return for this investment, KapschTrafficom now owns 56.8% of TMT. The founding shareholders and Matemeku own the remaining 43.2%.

The investment in TMT by KapschTrafficom has enabled TMT to create jobs through the two year build phase of GORT and the eight year operations contract of GORT. In terms of the operations sub-contract, TMT will undertake about a third of ETC’s operational responsibilities. As a result of the build phase and the operations phase, TMT has created over 400 much needed new jobs.

KapschTrafficom is committed to its future in South Africa and TMT is proud to be associated with a forward thinking and socially responsible company that has for two years been one of the largest overseas investors in South Africa. The South African Government and the business community welcomes such overseas investment and regards it as essential to grow the economy, introduce state of the art technology and create many new jobs.

A diagram showing the full detail of the shareholding structure follows (some of the detail regarding shareholdings has been omitted from the above explanation in the interest of clarity).