On May 2 KST, an exclusive media outlet reported that ADOR CEO Min Hee Jin had asked permission to end the exclusive contracts of the NewJeans members without the consent of HYBE or ADOR shareholders.
In February of this year, after the talks from the previous year over the '30-times the amount in put back options' and 'put back options for the newly issued 5%', Min Hee Jin submitted the request as a suggested change to his present shareholder's contract with HYBE Labels.
Traditionally, a shareholders' meeting is used to decide issues pertaining to major artists' exclusive contracts. In the past, celebrities like BTS and BLACKPINK have used phrases like "The decision to renew the members' exclusive contracts was passed during a board meeting" to affirm their plans to extend their contracts.
But according to rumors, Min Hee Jin has asked for a change to her shareholder's agreement that would enable her to break the NewJeans members' exclusive contracts with ADOR alone, without seeking approval from the board or HYBE.
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