April 24 (Reuters) - Ellex Medical Lasers Ltd ELX.AX :
* ELLEX MEDICAL LASERS-PROPOSES TO DISTRIBUTE ABOUT $61 MILLION OF PROCEEDS OF SALE OF ELLEX LASERS & ULTRASOUND BUSINESS TO SHAREHOLDERS
* ELLEX MEDICAL LASERS-PROCEEDS FROM SALE OF BUSINESS TO BE DISTRIBUTED BY WAY OF PAYMENT OF FULLY FRANKED DIVIDEND & CAPITAL RETURN
* ELLEX MEDICAL LASERS-PROPOSED EQUAL CAPITAL REDUCTION OF $41.5 MILLION EQUATES TO ABOUT $0.29 PER SHARE
* ELLEX MEDICAL LASERS-PROPOSED FULLY FRANKED DIVIDEND EQUATES TO $0.14 PER SHARE