CEO Min Hee-jin of New Jinse Group’s affiliate Adouir. / News1
, ‘It has been confirmed that CEO Min Hee-jin of Adouir, an affiliate of New Jinse Group, contacted Naver and the operator of Upbit, Dunamu, in order to secure management rights. Naver and Dunamu reportedly admitted to meeting with CEO Min and Hive. The revelation of the existence of external investors, which had not been disclosed before, is expected to lend credibility to Hive’s claim that Min has been pursuing a takeover of management rights. Min had previously claimed that he had never met with any investors to take over the company’s management rights.’, ‘According to investment banks and legal circles on the 17th, CEO Min proposed the acquisition of Adouir to Dunamu executive A and Naver officials. It was reported that Min made statements to A such as “Pressure Hive to let go of Adouir.” Dunamu holds 5.6% of shares in Hive and is one of the top three shareholders with the right to appoint directors.’, ‘The fact that CEO Min contacted Naver and Dunamu was revealed during the process of Hive auditing Min’s side. Earlier, Hive confirmed that Min’s side illegally downloaded trade secrets such as dividend history by artist and regional income, which only Hive can manage, and initiated an internal audit on the 22nd of last month. This was to verify the attempt by Min to attract external investors and sell Adouir shares held by Hive, known as the so-called “takeover of management rights.”‘,
Materials obtained by Hive during Adouir audit. / Provided by Hive
, ‘CEO Min has been insisting, “I have never met any investors to take over the company’s management rights.” He also refuted Hive’s claim that discussions regarding external investors and takeover of management rights took place the previous day, saying, “I did not provide any opinions regarding capital increase or sale related to takeover of management rights, as I knew that capital increase or sale without the consent of major shareholders cannot be done.”‘, ‘In response, Hive stated, “If the discussions with investment industry employees were related to a takeover of management rights, they could not have taken place.” The company added, “CEO Min deceived the public by saying in a press conference on April 25 that he had never met with investors, but each lie is being uncovered one by one through evidence and facts.”‘, ‘On the same day, a hearing on the injunction to prohibit the exercise of voting rights was held on behalf of CEO Min. Before the temporary shareholders’ meeting of Adouir scheduled at the end of the month, Hive aims to prevent CEO Min from exercising voting rights through dismissal. If the court issues an injunction, it will be impossible to dismiss CEO Min as Hive, which holds 80% of Adouir shares, will be blocked from exercising voting rights.’, ‘[‘, , ‘]’, ‘- Copyrights ⓒ 조선비즈 & ChosunBiz.com, Unauthorized reproduction and redistribution prohibited -‘, ‘Reporter Kim Jong-yong [email protected] Reporter Hong In-seok [email protected]’,