RHN Proxy installation fails with "No package spacewalk-proxy-management available"

Issue

• RHN Proxy installation fails with "No package spacewalk-proxy-management available"
• Trying to install and activate RHN Proxy against RHN Satellite v5.4

# configure-proxy.sh --version=5.4
RHN Parent [rhnsatellite.example.com]: 
CA Chain [/usr/share/rhn/RHN-ORG-TRUSTED-SSL-CERT]: 
Proxy version to activate [5.4]: 5.4
..snip..
RHN Proxy successfully activated.
Loaded plugins: product-id, rhnplugin, subscription-manager
Updating certificate-based repositories.
Unable to read consumer identity
Setting up Install Process
No package spacewalk-proxy-management available.
Error: Nothing to do
Installation of package spacewalk-proxy-management failed. Installation interrupted.
RHN Proxy successfully deactivated.