ADOR to convene shareholders meeting on May 31

ADOR logo [ADOR]

ADOR will hold a shareholders meeting on May 31 to vote on "the item requested by HYBE," the NewJeans agency said Friday after its board meeting in the morning.

"All board members took part in the meeting today and decided to hold the shareholders meeting on May 31," ADOR said in a press release.

Shareholders will vote on whether or not to dismiss Min Hee-jin, the current CEO of ADOR and producer of the agency's only girl group NewJeans, from her place.

HYBE currently owns 80 percent of ADOR, Min 18 percent and other executives of ADOR 2 percent.

Min has filed for an injunction to the court to stop HYBE from exercising its rights as the 80-percent owner of ADOR during the shareholders' meeting.

A hearing is set to take place on May 17.