This remains fundamental to our business model going forward and both Kagiso Trust and Tiso Foundation are critical shareholders, who will continue to imbue our organization with a sustainable and socially responsible business approach this will also remind us of the unique value proposition the two foundations provide to KTH and to our partners The merger of Kagiso Trust Investments and Tiso Group, both with strong track records in the investment arena, has led to the birth of Kagiso Tiso Holdings A new company, a new investment champion, Kagiso Tiso Holdings has entered the South African landscape The merger of Kagiso Trust Investments and Tiso Group was formally concluded on 1 July 2011 Together with our other shareholders Tiso Investment Holdings, Remgro, Staff Trust and various other institutions, KTH has a solid foundation from which to operate