ELDER PHARMACEUTICALS LTD. - Outcome of Board Meeting

Elder Pharmaceuticals Ltd has informed BSE that the Meeting of the Board held on September 28, 2015 regarding the sale of the step down overseas subsidiaries, the matter was discussed by the Board of the Company and it was deliberated that complying with the legal parameters, the proposal should be put forward before the Board of Elder Pharmaceuticals Ltd. by the Board of Elder International, FZCO - Dubai for further consideration and necessary approval.