On the 30th, around 4:45 pm, at the Seoul Western District Court, HYBE's ADOR Min Hee
The hearing date for the request for approval of an extraordinary general meeting of shareholders to dismiss CEO Jin has been set. HYBE has applied to the court on the 25th for approval to convene an extraordinary general meeting of shareholders in case the general meeting of shareholders falls through.
There is a reason why the application is accepted. If the court cites this, the shareholders' meeting will be held, and the court's approval or disapproval will be decided within three weeks. The shareholders' meeting will be held as early as five weeks later.
The hearing on the application for approval of the extraordinary general meeting of shareholders was held in private that day, and lawyers from both sides attended as scheduled. HYBE's legal representatives responded to questions from reporters by saying,
There was silence, and ADOR's legal representatives stated their position that "the board of directors will be convened through due process, and then the general shareholders' meeting will be held."
ADOR CEO Min Hee-jin submitted a request to change the hearing date on the 29th, citing a lack of preparation time.
However, the court reportedly did not accept this. In relation to this, the defense team stated that with the comeback of "NewJeans" looming, there are allegations of usurpation of management rights and an extraordinary general meeting of shareholders.
The defense explained that they had requested a change in the hearing date because they had not had enough time to consider legal action due to the application for permission for the court to change the hearing date.
The company announced that it plans to hold a board meeting until May 10th and a shareholders' meeting at the end of May. Prior to this, HYBE had recently accused CEO Min Hee-jin of attempting to seize control of ADOR.
The company announced that it had secured various pieces of evidence that Min was attempting to seize management control as a result of the interim audit. In response, Min Hee-jin held an emergency press conference and
However, the gap between the two sides has not narrowed. HYBE, which owns 80% of ADOR's shares, has decided to hold an extraordinary shareholders' meeting, at which point CEO Min Hee-jin will
The shareholders' meeting will be held on April 1, 2019, and the ADOR management team will be dismissed. Will the extraordinary general meeting be held? The result is expected to be known within the next four to five weeks.
2024/04/30 19:31 KST
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