According to an exclusive media outlet report on May 17 KST, CEO Min Hee Jin of ADOR is suspected of having met with representatives from Dunamu, a corporation specializing in assets and currency exchange services, and Naver Corporation, suggesting that these investors "scoop up ADOR".
It's said that evidence of Min Hee Jin's meetings with reps from Dunamu and Naver Corporation surfaced during HYBE's internal audit process, when auditors confiscated Min Hee Jin's PC and found KakaoTalk logs mentioning the talks. In the chat logs, Min Hee Jin allegedly said, "'A' from Dunamu has no idea what I'm talking about. Sh**," and "Well, Naver is picking up on it well enough."
Previously, in KakaoTalk chat logs released by HYBE in an earlier statement, vice president 'S' of ADOR suggested a plan for Min Hee Jin to acquire the company by bringing in foreign investors, convincing HYBE to sell its shares in ADOR to those investors, and then using the cash obtained after exercising her put options to buy out ADOR's shares.
However, in response to the suspicions that she and vice president 'S' had drawn up plans to seize control of ADOR, Min Hee Jin claimed, "I never met up with any investors in an attempt to seize control of the company," and added, "Apparently I conspired with some investors. What investors? Bring them here."
Notably, Dunamu is currently a major shareholder of HYBE Labels (5.6%) with rights to appoint board members.
Meanwhile, also on this day (May 17 KST), the court will begin inquiring into a request filed by Min Hee Jin against HYBE. Min Hee Jin has asked the court to ban HYBE from exercising its voting rights at ADOR's extraordinary shareholder's meeting, scheduled for the end of this month, which would effectively prevent HYBE from having a say in Min Hee Jin's dismissal.
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