Feb 9 (Reuters) - Eureka Group Ltd (APZ) :
- UPDATE ON PROPOSED TAKEOVER OFFER,APZ
- HAS NOT RECEIVED A FORMAL OFFER OR A BIDDER'S STATEMENT FROM ASPEN
- ALL-SCRIP PROPOSED BID PROPOSES A MERGER RATIO OF 0.26 ASPEN SECURITIES PER EUREKA SHARE
- EUREKA BOARD CONSIDERS CURRENT OFFER INADEQUATE AND THAT IT UNDERVALUES EUREKA
- BOARD NOTES THAT NO CONTACT WAS MADE BY ASPEN TO EUREKA PRIOR TO OR SINCE IT ANNOUNCED TO ASX ITS INTENDED TAKEOVER BID
- ADVISES SHAREHOLDERS TO TAKE NO ACTION
- CONSIDERS IMPLIED BID PRICE OF 43.6 AU CENTS PER EUREKA SHARE REPRESENTS EITHER DISCOUNT OR NO MEANINGFUL PREMIUM OVER CO'S SHARE PRICE
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