Min Hee Jin demands 26 billion KRW from HYBE after leaving agency; files complaint to gain put option payment
Min Hee Jin has filed criticism to command her save option rights at HYBE in spite of the whole lot of a sudden leaving ADOR. Be taught on to know necessary formulation.
The HYBE vs Min Hee Jin controversy has a leap forward because the dilapidated ADOR CEO made up our minds to command her save option rights. She filed a criticism to receive the payout estimated at 26 billion KRW after resigning because the within director of ADOR. She first and main filed the criticism a few weeks prior to now but HYBE contested citing that the shareholder agreement which permits her to command the rights, has already been terminated.
On November 20, following her resignation from ADOR, Min Hee Jin filed a new unbiased correct criticism on the Seoul Central District Court anxious the payout of her save option command. She took this resolution loyal loyal after leaving the agency, indicating her plans to command her save option rights and stable financial compensation.
As per her shareholder agreement, Min Hee Jin might per chance well well perchance restful receive a payout of an quantity equal to 75% of her stake in ADOR, calculated by multiplying the agency’s revenue from the old two years by 13 times.
In accordance with the audit account released by NewJeans’ agency in April, Min Hee Jin at the moment owns 573,160 shares in ADOR, which is around 18%. If calculated fixed alongside with her contract, she is entitled to receive an estimated 25.8 billion KRW. Nonetheless, trade observers are criticizing her resolution to command the save option now, as ADOR reported a 4 billion KRW working loss for the 365 days 2022, which is referenced in her claims.
Whereas, for 2023, the agency reported a 33.5 billion KRW revenue. If Min Hee Jin waited till early next 365 days earlier than taking unbiased correct circulate, she’s going to possess obtained a remarkable increased payout.
Meanwhile, whether the courtroom will accept her fresh petition is dangerous as HYBE has already contested citing that the shareholder agreement has already been terminated, resulting from this fact nullifying her save option. A courtroom ruling will first make a resolution whether Min Hee Jin can command her save option rights earlier than making judgment about accepting her payout inform.
On November 20, Min Hee Jin publicly announced her resignation from ADOR. She furthermore unfollowed NewJeans on Instagram, sparking concerns about the girl neighborhood’s future which has been equally embroiled in the feud with HYBE.
Source credit : pinkvilla
