MLG OZ LTD

Pre Money Equity Valuation
$75,000,000
Min Raise
$70,700,000
Max Raise
$70,700,000
Estimated Close
2021-04-22
Issue Type
IPO
Lead Manager
Bell Potter Securities Ltd, Morgans Corporate Ltd, Ashanti Capital
Type of Securities
Shares
Date First Lodged
01/04/2021
Offer Costs $
$5,200,000
Market Cap Max
$145,700,000
Key Executives
Jim Walker (NEC), Murray Leahy (MD), Garret Dixon (NED), Anna Neuling (NED)
Company Address
MLG Oz Limited 10 Yindi Way Broadwood WA 6430
Exchange
ASX
Chairman's Letter

Dear Investor,
It gives me great pleasure to invite you to consider becoming a shareholder of MLG Oz Limited (MLG or the Company).
MLG is an integrated mine site services and logistics provider, founded by Murray Leahy in 2002, in Kalgoorlie,
Western Australia. MLG began as a single service contract, providing silica mining and haulage services for BHP. From
this initial contract, MLG has grown into a significant provider of key mine site logistics services to the Australian
mining and civil infrastructure industries, with operations now spanning 29 sites throughout Western Australia and
the Northern Territory.
MLG’s business model is to seek to integrate the production support services it provides within its client’s operations
and position itself as a key part of their mine production. Clients can trust MLG because of its track record of reliability,
quality and safety; a reputation built over almost two decades of delivering for clients. MLG’s ability to deliver on its
commitments has helped to establish a number of significant, long-standing relationships evidenced by a track record
of contract renewals and scope extensions on key contracts.
The Company’s continued pursuit of new clients and expansion of its service offering has resulted in consistent
historical growth with:
• pro forma historical revenue growing from $132.7 million in FY18 to $205.1 million in FY20 (a CAGR of 24.3% over
that period), and which is forecast to grow to $241.6 million in FY21; and
• pro forma historical EBITDA growing from $15.6 million in FY18 to $24.5 million in FY20 (a CAGR of 25.3% over that
period), which is forecast to grow to $41.0 million in FY21.
In addition, MLG sees a strong pipeline of potential growth opportunities including: prospective new contracts; the
continued growth of its existing clients and the expansion of its service offering to those clients; the pursuit of strategic
assets or potential bolt-on acquisition opportunities; and geographical expansion. The funds raised by the Company
under this Offer will, among other things, provide MLG with increased financial capacity and flexibility to pursue and
fund these identified growth opportunities (see Section 7.1(b) for further detail). In addition, the Company’s founder
and existing shareholder, Murray Leahy, will continue to hold a significant interest of approximately 50.1%1
of Shares
at Completion of the Offer, evidencing Murray’s continuing, strong support for the Company and its future.
This Prospectus contains detailed information about the Offer, the industry in which MLG operates and MLG’s historical
and pro forma historical financial position, as well as a summary of certain key risks associated with an investment
in MLG (which is contained in Section 5). The risks summarised in that section include (but are not limited to) the
loss of key clients or contracts, volatility or change in market conditions, occupational health and safety risks and
reputational risks. I encourage you to read this Prospectus in detail before making an investment decision, including
the further information about the key risks associated with an investment in MLG contained in Section 5.
The Directors and Management believe that the successful IPO of the Company will enhance MLG’s ability to
pursue the identified opportunity pipeline and to continue to pursue growth while also providing employees with
the opportunity to become shareholders in the Company. On behalf of the Board of Directors and Management,
I look forward to welcoming you as a shareholder and your participation in the next phase of MLG’s evolution.
Yours faithfully,
Jim Walker
Non-Executive Chairman
MLG Oz Limited