I'm struggling a little here to think of how a flag of this type would have been used during the TR... It's not a formation flag and I can't think of having seen one on a photo. I have to admit to some reservations on whether it's period to be honest. What's the size Shane?
Just for my own reference did any flags /pennants have the printed maker, my understanding was early ones had nothing later ones may have an RZM tag, from what ive read other TR flags do have a printed maker/district but not HJ ones...