Shareholders led by Naftali Investments Ltd. entered into an agreement to acquire 61% stake in POCARED Diagnostics Ltd. from Elron Electronic Industries Ltd. (OTCPK:ELRN.F) and RDC -Rafael Development Corporation Ltd. on August 6, 2020. Under the terms, Elron and RDC will transfer most of their holdings to the buyers as well as most of the balance of the loans previously granted to Pocared by them. In addition to their remaining holding in Pocared, Elron and RDC will be entitled to a portion of any future consideration that the Buyers may receive from the Securities that were transferred. Post the completion of the transaction, Elron and RDC will retain customary minority rights in Pocared and will have no obligation to make any further investment in Pocared. The consolidated holding of Elron in POCARED will be reduced to 10% post the completion of the transaction. Einat Weidberg and Yoav Manor of Shibolet & Co. acted a s legal advisor to sellers in the transaction. Shareholders led by Naftali Investments Ltd completed the acquisition of 61% stake in POCARED Diagnostics Ltd. from Elron Electronic Industries Ltd. (OTCPK:ELRN.F) and RDC -Rafael Development Corporation Ltd. on September 8, 2020.