Former ADOR CEO Min Hee Jin has taken authorized motion to be reappointed as an inside director of ADOR.
On September 13, a consultant of Min Hee Jin launched an official assertion, saying, “As we speak, former CEO Min Hee Jin filed an utility for injunction to convene a unprecedented common assembly of shareholders and reappoint Min Hee Jin as an inside director of ADOR with the Seoul Central District Court docket.”
Learn the complete assertion beneath:
Howdy,
That is Macoll Consulting Group, chargeable for media communication in collaboration with Sejong Legislation Agency, representing former ADOR CEO Min Hee Jin.
As we speak, former CEO Min Hee Jin filed an utility for injunction to convene a unprecedented common assembly of shareholders and reappoint Min Hee Jin as an inside director of ADOR with the Seoul Central District Court docket. We want to clarify why we utilized for an injunction to nominate her as director and CEO as an alternative of an injunction to droop the dismissal of the CEO.
The dismissal of former CEO Min Hee Jin is a violation of the shareholders’ settlement and contradicts the court docket’s determination to ban the train of voting rights. We have been making ready an injunction to contest the validity of the CEO’s dismissal. Nevertheless, contemplating the necessity for a unprecedented common assembly of shareholders to reappoint [Min Hee Jin as] ADOR’s director by November 2, 2024 and the court docket’s overview interval for the injunction, we utilized for an injunction to reappoint former CEO Min Hee Jin as a director of ADOR after which appoint her as CEO.
Former CEO Min Hee Jin is assured a five-year time period as CEO and inside director of ADOR underneath the shareholders’ settlement. This reality has already been clearly acknowledged by the Seoul Central District Court docket’s determination to ban the train of voting rights. However, HYBE unilaterally dismissed former CEO Min Hee Jin for a similar causes as earlier than. This can be a direct violation of the still-valid shareholders’ settlement and the court docket’s injunction determination to ensure the CEO’s time period.
On November 2, 2024, the three-year time period of former CEO Min Hee Jin as an inside director of ADOR will expire. HYBE is unilaterally claiming that the shareholders’ settlement has been terminated with none foundation though there are lower than two months left in former CEO Min Hee Jin’s time period as an inside director. It’s evident that HYBE won’t reappoint former CEO Min Hee Jin as an inside director underneath these circumstances.
Due to this fact, we inevitably utilized for an injunction to convene a unprecedented common assembly of shareholders earlier than the expiration of former CEO Min Hee Jin’s time period as an inside director and to train voting rights in favor of the “Reappointment of Min Hee Jin as an Inside Director.”
We hope that HYBE will stop the continual contract violations, enterprise interference, defamation, and insults and make cheap administration selections for the way forward for ADOR and NewJeans.
Thanks.
Beforehand on August 27, ADOR introduced that Min Hee Jin would not be serving as CEO of the corporate however that she would proceed to provide NewJeans’ content material as an inside director at ADOR. Min Hee Jin’s representatives argued that the board’s determination was procedurally flawed and that the choice to dismiss her as CEO violated the shareholders’ settlement and ignored the court docket’s ruling. Following the incident, all 5 members of NewJeans held a stay broadcast on YouTube on September 11, issuing an ultimatum to HYBE to reinstate Min Hee Jin as CEO by September 25.
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