Feb 19 (Reuters) - Red 5 Ltd RED.AX :
* ANNOUNCES INTENTION TO MAKE TAKEOVER BID FOR BULLSEYE MINING
* BULLSEYE SHAREHOLDERS WILL BE OFFERED 1 FULLY-PAID ORDINARY SHARE IN RED 5 FOR EVERY 5 BULLSEYE SHARES THEY HOLD
* OFFER VALUES EQUITY IN BULLSEYE AT ABOUT A$4.016 MILLION AT CURRENT TRADING PRICE OF RED 5 SHARES