Court Rejects Date Change Request for ADOR Shareholders’ Meeting

The Seoul Western District Court intends to move forward with the scheduled examination date of April 30 at 4:35 PM for the extraordinary shareholders’ meeting, as requested by HYBE, to dismiss ADOR’s Min Hee-jin.

As per the legal community, Min Hee-jin’s team, through a law firm, submitted a request for a change in the meeting date on the 29th, just one day prior to the scheduled examination. It was reportedly due to inadequate preparation time, among other reasons.

Despite being asked, the court side has not yet announced their decision on whether to accept the change request. However, it has been confirmed that both HYBE and ADOR sides have not been notified of any approved changes.

A representative from HYBE confirmed, “We have been informed that the event will proceed as planned by the Western District Court and we have not been notified of any changes.”

Conversely, ADOR declared its decision to not attend the board meeting summons issued by HYBE.

On the 22nd, HYBE requested a board meeting to replace ADOR management, citing an attempted takeover. Despite not receiving a response from ADOR, HYBE proceeded to submit an application for a temporary shareholders’ meeting to the court on the 25th.

Typically, the court makes a decision about the permission status approximately three weeks after the examination date has been scheduled. If the court informs them of the temporary shareholders’ meeting, it will take place 15 days after the notification. It has been revealed that HYBE intends to replace the management within the next 1 to 2 months.

The source of this information is Daum.