Ousted Elron Chairwoman: "Ranov and Bentov Pressured to Raise NIS 150 Million in Bonds to Repay Their Personal Debts"

Lisia Bachar-Manuch, the ousted chairwoman of Elron, claims in a warning letter that her partners Oren Ranov and Ronen Bentov pressured management and the board to raise NIS 150 million through a bond issuance to repay personal debts, including NIS 90 million to Phoenix Investment House. She warns that Elron shares may be sold by Phoenix, risking loss of control. Elron dismissed the claims as "baseless."

Lisia Bachar-Manuch, the ousted chairwoman of Elron, alleges in a warning letter submitted through her lawyers that her partners Oren Ranov and Ronen Bentov exerted "heavy and incessant pressure" on management and the board to raise financing through a NIS 150 million bond issuance, in order to distribute the sum to shareholders and allow them to repay a personal debt of NIS 90 million to Phoenix Investment House. The letter claims that all professional parties in the company opposed the move, and that investors expressed displeasure. It further states that Bentov and Ranov attempted to prevent disclosure of information about the loan's status. The conflict has become personal, with Bachar-Manuch accusing them of threats against her and her family. The central claim is that the board lacked authority to oust her due to a conflict of interest, and that the appointment of new directors at the same meeting was intended to take over the company. Bachar-Manuch warns that on October 30, the extension for repaying the debt expires, and there is a risk that Elron shares will be sold by Phoenix. Elron responded that the claims are "baseless" and that the board acts in the company's best interest.

Ousted Elron Chairwoman: "Ranov and Bentov Pressured to Raise NIS 150 Million in Bonds to Repay Their Personal Debts"