Mastermyne is a leading provider of specialised services to the Australian coal mining industry through its three operating divisions, Mastermyne Underground (underground roadway development, installation of conveyors and longwall relocation), Mastermyne Engineering (design and engineering of specialised mining equipment and consumables) and Mastermyne Services (surface electrical, mechanical and maintenance services).

Mastermyne has developed a leading market position servicing coal mines in Queensland’s Bowen Basin, a growing presence in the Illawarra region in New South Wales and has recently expanded into the New South Wales Hunter Valley coal market through the recent acquisition of mining services group, MTR Services. Mastermyne has grown rapidly through the strength of the Australian coal market over the past 5 years and a series of 6 strategic acquisitions. A diversified client base includes Anglo Coal, BHP Billiton, BMA, Rio Tinto, Vale and Xstrata.

Chairman of Mastermyne, Mr Peter Slaughter, said, the company was experiencing very strong demand for its services and was ideally positioned to leverage future growth from the coal sector.

“The management team and founders of Mastermyne are staying on and are committed to the future success of the group. We believe the timing for new shareholders is favourable given the robust outlook for the Australian coal industry.

“The growth opportunities available will allow the company to target a doubling of revenue over the next three to five financial years driven by factors such as forecasted increased coal production, new contract wins, expanding services and geographic growth,” said Mr Slaughter.

Managing Director Mr Tony Caruso said the past 10 years has seen Mastermyne build a market leading position in the Bowen Basin with the top tier mining companies, and it is now looking to replicate that success in NSW.

“We are focused on delivering earnings growth and have a very good understanding and business plan for the challenges we may face in a strong resources market.

“We have invested heavily in building an experienced executive team and highly skilled workforce to manage ongoing growth, and this is reflected in the quality of the business and consistency of earnings,” said Mr Caruso.

Summary of the Offer

A total of 40 million shares are being offered to investors under the Prospectus at a price of $1.00 per share, representing in aggregate approximately 55% of the issued capital in Mastermyne following the Offer.

Net proceeds of the Offer will be available to fund the purchase of shares in Mastermyne Pty Ltd from existing shareholders.

Offer Structure

The Offer, which will be fully underwritten by Wilson HTM Corporate Finance Ltd, will comprise an employee offer, general public offer, broker firm offer and institutional offer.

Board of Directors

Mastermyne’s Board comprises Nonexecutive Chairman, Mr Peter Slaughter, CEO and Managing Director, Mr Anthony Caruso, Founders Mr Andrew Watts and Mr Darren Hamblin and Non-executive Director Mr Ian Hall.