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July 4 (Reuters) - Hornby Plc
* Hornby directors "believe that offer does not reflect an adequate premium for control and significantly undervalues hornby"
* Hornby directors, advised by Numis Securities as to financial terms of offer, unanimously recommend that hornby shareholders reject offer
* Hornby directors recommend shareholders should take no action in relation to offer; should not sign document sent by Phoenix UK Fund or advisers Source text for Eikon: Further company coverage: