Eureka Group Holdings Limited responds to unsolicited takeover offer

Eureka Group Holdings Limited (ASX: $EGH) has released a Target's Statement in response to an unsolicited takeover offer from Aspen Group Limited. The Board unanimously recommends that shareholders reject the offer, citing reasons such as the inadequacy of the implied offer price, denial of future earnings upside, and adverse tax consequences. The Independent Expert's Report concludes that the offer is neither fair nor reasonable for Eureka shareholders not associated with Aspen. Shareholders are encouraged to seek independent professional advice before making a decision. The company has established a shareholder information line for queries related to the offer and will consider alternative offers aligned with Eureka's strategic value and growth prospects.

Executive Commentary on the Offer and Future Prospects

The Board of Eureka Group Holdings is committed to protecting the interests of our shareholders and believes that Aspen's takeover offer does not adequately reflect the true value and potential of our company. We are confident in our attractive future and will continue to pursue opportunities aligned with our business model. We urge our shareholders to carefully consider the information provided in the Target's Statement and seek independent professional advice before making any decisions. We remain open to alternative offers that recognize the strategic value and growth prospects of Eureka.

Summary of Target's Statement and Outlook

Eureka Group Holdings has responded to Aspen Group Limited's unsolicited takeover offer with a clear recommendation for shareholders to reject the offer. The company disputes claims made by Aspen and highlights adverse tax consequences associated with the offer. The Independent Expert's Report concludes that the offer is neither fair nor reasonable for Eureka shareholders not associated with Aspen. Eureka remains focused on pursuing opportunities aligned with its business model and will consider alternative offers that recognize its strategic value and growth prospects. Shareholders are encouraged to seek independent professional advice before making any decisions.