Navigation Links
Cytopia and Other Progen Shareholders Maintain Call for Meeting
Date:2/8/2009

MELBOURNE, Australia, Feb. 9 /PRNewswire/ --

  • Shareholders continue to support choice of cash back option and new Progen board
  • Call by over 18% of Progen shareholders to combine general meetings
  • Significant funding shortfall identified in the Progen merger proposal

Shareholders' Requisition

Late last week Progen Pharmaceuticals Limited (ASX: PGL) responded to the requisitioning of a general meeting by Cytopia Limited (ASX: CYT) and 14 other Progen shareholders and have questioned the validity of the requisition. The proposed resolutions for that meeting ("choice resolutions") seek to achieve two outcomes:

  • A full share buyback offered to all Progen shareholders
  • Removal of the current board and appointment of three new independent directors

The Progen board appears committed to its merger proposal with Avexa Limited (ASX: AVX) and a limited share buyback, to the exclusion of other shareholder proposals. Under the proposed merger, shareholders would effectively become investors in an HIV company with long and costly funding requirements in HIV drug candidate Apricitabine (ATC).

The shareholder proposal offers the choice of either staying as investors in a cancer focused biotech company or redeeming the cash backing of their shares, subject to available net cash reserves.

Under the resolutions that have been put forward to Progen by shareholders, no merger resolution has been proposed, nor are the appointments of the three new director candidates conditional on a merger going forward. These directors seek appointment on a declared platform of considering a merger between Cytopia and Progen but such a merger could only occur once the share buyback has been carried out, remaining net assets are determin
'/>"/>

SOURCE Cytopia Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Presentation on Cytopias JAK2 Inhibitor Program in Myeloproliferative Disorders
2. Cytopia Strengthens Scientific Team With US-Based Drug Development Specialist
3. Cytopia Presentation on JAK2 Inhibitor at American Association for Cancer Research
4. Microtest Labs Offers Free Microbial Identification Testing, Free Shipping on Other Tests, to MD&M West Attendees
5. REXIN-G Shrinks Metastatic Tumors and Triples Survival Time in Chemotherapy-Resistant Pancreatic Cancer: Analysis of a U.S. Phase I/II Clinical Trial (Proceedings of ASCO GI Symposium 2009)
6. Northwest Biotherapeutics Settles Class Action Complaint, and SEC Investigation Closed Without Action
7. GeneGo Renews Its Agreement With Bayer Schering Pharma AG for Another Three Years
8. BioLife Solutions Completes Safety Studies on HypoThermosol(R) and CryoStor(TM)
9. Prostate Cancer Patient in Montpellier Becomes First Cancer Patient in France Treated with Varians RapidArc(TM) Radiotherapy
10. Genomic Health Announces Publication of a Study Demonstrating the Oncotype DX(R) Breast Cancer Assay Influences Chemotherapy Treatment Recommendation in 44 Percent of Patients Evaluated
11. South Africas Minister of Minerals and Energy Welcomes Denham Capital Investment in BioTherm Energy to Develop Power Generation Business
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/2/2014)... Opertech Bio, Inc., a company ... effective approach to sensory evaluation, today announced the ... U.S. Patent and Trademark Office, encompassing high-throughput sensory ... “Opertech’s taste evaluation technology called Microtiter Operant Gustometer ... system for rapid characterization of taste sensory properties,” ...
(Date:9/2/2014)... Inc. (TSXV: BRM) ("Biorem" or "the Company") today announced three ... large odour control systems for waste water treatment plants in ... consistent with the market resurgence in North America ... "After a difficult period of restraint in our core municipal ... growth. Our lower cost structure, technology improvements and supply chain ...
(Date:9/1/2014)... 2014 Reportlinker.com announces that a new ... India Solid Waste Management Vehicles Market ... http://www.reportlinker.com/p02350445/India-Solid-Waste-Management-Vehicles-Market-Forecast-and-Opportunities-2019.html In India ... bodies responsible for complete handling and regulation of ... around 135,000 MT solid waste is generated daily ...
(Date:8/31/2014)... (PRWEB) August 31, 2014 ... Industry” is a professional and in-depth research ... provides basic Polyacrylamide information, including Polyacrylamide definition, ... well as industry overview. This research covers ... as well as global industry analysis covering ...
Breaking Biology Technology:Opertech Bio Receives U.S. Patent for High-Throughput Taste Evaluation Technology 2India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 2India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 3India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 4India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 5India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 6India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 7India Solid Waste Management Vehicles Market Forecast and Opportunities, 2019 8International Polyacrylamide Industry & Copper Iodide Market Data Analysis Now Available at DeepResearchReports.com 2International Polyacrylamide Industry & Copper Iodide Market Data Analysis Now Available at DeepResearchReports.com 3
... In the quest to exploit unique properties at ... have developed a novel technique for creating uniform ... and students in the Department of Physics and ... methods from holographic lithography to demonstrate a new ...
... Pharmaceuticals, Inc. (NASDAQ: IDIX ), announced today that ... Stanley Global Healthcare Conference on September 13 at 8:35 a.m. ... the Bank of America Merrill Lynch Global Healthcare Conference on ... of America Merrill Lynch Financial Centre, London.   ...
... Cellectis (Alternext: ALCLS), the French genome engineering specialist, will present at ... September 20, 2011, and at the MidCap Event in Paris on ... will present the activities and the development strategy of the Cellectis ... Hyatt New York hotel on Tuesday, September 20, 2011 at 11:30 ...
Cached Biology Technology:Stevens researchers pioneer novel technique to make plasmonic nanogap arrays 2Stevens researchers pioneer novel technique to make plasmonic nanogap arrays 3
(Date:9/2/2014)... Field Museum will present the prestigious Parker/Gentry Award to ... to biodiversity conservation awareness. The Parker/Gentry Award is given ... team or organization whose efforts have had a significant ... whose actions can serve as a model to others. ... environmental science and conservation news website that draws more ...
(Date:9/2/2014)... of Human Genetics (ASHG) and the National Human ... Institutes of Health, have named Elizabeth P. Tuck, ... School in Columbus, Ohio, the first ASHG/NHGRI Genetics ... , The Genetics and Education Fellowship is intended ... experience, and network to prepare for a career ...
(Date:9/2/2014)... It,s not always true that digital distribution of ... by physical means, at least when file sizes ... study published in Yale,s Journal of Industrial ... of games for consoles such as PlayStation3. Researchers ... caused lower greenhouse gas emissions than game files ...
Breaking Biology News(10 mins):ASHG and NHGRI award first genetics and education fellowship 2
... The work of molecular biologist Joseph M. Miano, ... Miano helps head the Aab Cardiovascular Research Institute and ... and Pediatrics program at the University of Rochester Medical ... was highly unlikely, shared enthusiasm, intense curiosity and a ...
... of researchers from the University of Valladolid (Spain) has analysed ... free iron than pale and non-alcoholic beers. Iron is essential ... compounds that give these beverages stability and flavour. According ... (UVa) on 40 types of beers from all 5 continents, ...
... Scientists at the National Physical Laboratory (NPL) have mimicked ... genetic material. The research hopes to apply the approach ... defective genes such as those that cause cancer. ... challenges around targeting damaged cells and creating corrective genes. ...
Cached Biology News:In quest for new therapies, clinician-scientist team unlocks hidden information in human genome 2In quest for new therapies, clinician-scientist team unlocks hidden information in human genome 3In quest for new therapies, clinician-scientist team unlocks hidden information in human genome 4Dark beer has more iron than pale beer 2
... Agarose overlays are commonly used ... commercial "DNA grade" agaroses either ... to insect cells or lack ... obtain good overlays. Novagen's BacPlaque ...
AgarPlaque Plus Agarose 50 grams...
...
...
Biology Products: