Progen receives Nasdaq delisting notification

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Jun 24 2010

Progen Pharmaceuticals Limited (ASX:PGL;Nasdaq: PGLA) today received notice from the Nasdaq Stock Market that its securities will be delisted due to a minimum bid price deficiency under Nasdaq Listing Rule 5500(a)(2).

The notice states that trading in the Company's securities will be suspended at the opening of business on July 2, 2010, at which time a form 25-NSE will be filed with the Securities and Exchange Commission which will remove the Company's securities from listing and registration on the Nasdaq Stock Market.

This is not unexpected and Progen is currently seeking advice and will provide an update to the market at a later stage.

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Progen Pharmaceuticals Ltd

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