Court Rejects Min Hee-jin’s Date Change Request, ADOR Shareholders’ Meeting Proceeds as Scheduled?

Seoul Western District Court plans to proceed with the examination date for the extraordinary shareholders’ meeting requested by HYBE to dismiss ADOR’s Min Hee-jin as scheduled at 4:35 PM on April 30.

According to the legal community, Min Hee-jin’s side submitted a request for date change of this meeting through a law firm on the 29th, one day before the examination date. It is known that this was cited due to insufficient preparation time, among other reasons.

In response, the court side has not publicly confirmed whether to accept the change request, but it was confirmed that both HYBE and ADOR sides did not receive any notice of any approved change.

A HYBE official stated, “We understand that it will be held as scheduled by the Western District Court. We did not receive any other communication.”

On the other hand, ADOR announced its intention not to respond to the board meeting summons issued by HYBE.

It is known that HYBE demanded a board meeting to replace ADOR management on the grounds of an attempted takeover on the 22nd. However, after not receiving a response from ADOR, HYBE submitted an application for permission for the temporary shareholders’ meeting to the court on the 25th.

Usually, the court decides on the permission status about three weeks after the examination date is set. If notified of the temporary shareholders’ meeting by the court, the shareholders’ meeting and board of directors’ meeting will be held 15 days later. It is known that HYBE plans to replace the management within 1 to 2 months.

Source: Daum