bought at 58, page-37

abby, that particular director is John Lee and he is the chairman of PLD, where the auditors issued this warning on 30 September 2008.

"Material uncertainty regarding continuation as a going concern"

"Without qualification to the audit opinion expressed above, attention is drawn to the following matter. As a result of the matters described in Note 1(a) to the financial statements, there is significant uncertainty whether the consolidated entity will be able to continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report"

(Just read that once again or ref.pg 56 PLD annual report)

John Lee took the chair at PLD in May 2007. In 18 months since then that company has lost more than 90% in market capitalisation (down from $44.3Mil to a market cap of less than $2.7Mil. The PLD shares price is down from about 30cents to 1.1cent.

Why in the wild world would any Progen shareholder not vote A G A I N S T John Lee being on Progens board ?
(apart from his 2 member fan club - LOL)

With his record at Portland, John Lee must be desperate for a ‘corporate win’.
Progen’s $70M cash pot must be like a boy on the loose in a toy shop.
Where will Progen shareholders money go ?

My vote is a firm AGAINST resolution # 4
Show John Lee the EXIT door.