Jan 22 (Reuters) - CML Group Ltd CGR.AX :
* UPDATES ON NON-BINDING INDICATIVE AND CONDITIONAL OFFER RECEIVED FROM SCOTTISH PACIFIC GROUP TO ACQUIRE CML
* ADVISES THAT SCOTTISH PACIFIC IS PRESENTLY PROGRESSING ITS DUE DILIGENCE
* CONTINUES TO PROGRESS SCHEME WITH CONSOLIDATED OPERATIONS GROUPAS IT REMAINS PRESENTLY BEST AVAILABLE TRANSACTION FOR SHAREHOLDERS
* BOARD CONTINUES ITS RECOMMENDATION OF COG TRANSACTION IN ABSENCE OF A SUPERIOR PROPOSAL CAPABLE OF ACCEPTANCE BY SHAREHOLDERS