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Sydney - Thursday - November 13: (RWE Aust Business News) -
Progen's (ASX:PGL) strategic review has recommended a capital return of
50c a share, ($30.2m or 43pc of estimated cash reserves at February
2009).
Shareholder approval will be required.
Progen says the return will meet legitimate concerns raised by
shareholders in the period since the cancellation of PI-88 while leaving
it with sufficient funds to continue as a viable and significant
biotechnology company.