Min Hee-jin's Side Requests Change of Temporary General Meeting Hearing Date... Court Rejects

Min Hee-jin, CEO of ADORE, submitted a request to the court to change the hearing date for the petition to convene an extraordinary general meeting of shareholders, aiming to delay the hearing, but it was confirmed that the request was not accepted.

According to the legal community on the 30th, the law firm Sejong, representing CEO Min, submitted the request to change the hearing date to the Seoul Western District Court that morning. They cited insufficient preparation time for the hearing and a scheduling conflict with another witness hearing handled by Min's attorney as reasons.

However, since the court did not accept the request, the hearing began as originally scheduled at 4:45 PM that day.

Regarding this, CEO Min's side stated, "It seems the court decided not to change the hearing date and to proceed in order to hear both parties' opinions. This is a common occurrence," adding, "We will verbally present our position at today's hearing."

Earlier, HYBE requested a board meeting on the 22nd to dismiss CEO Min and other ADORE executives, but Min's side responded on the 29th refusing to hold the meeting, claiming HYBE's request was illegal.

Anticipating that CEO Min would refuse to convene the board meeting, HYBE filed a petition with the court on the 25th to permit the convening of a shareholders' meeting. As the largest shareholder holding 80% of ADORE's shares, HYBE has the right to petition the court to convene a shareholders' meeting.

Once the court's decision is made, notice of the extraordinary shareholders' meeting will be issued on the same day, and the shareholders' meeting and board meeting will be held 15 days later. HYBE plans to dismiss the current board members, including CEO Min, and appoint new directors through the shareholders' meeting.