The ongoing legal feud between HYBE and ADOR over a suspected takeover attempt has drawn attention to the possibility of the former repurchasing ADOR CEO Min Hee Jin’s shares.

According to a Korea Economic Daily report on May 1, KST, the ADOR shareholders’ agreement stipulates that HYBE has the right to purchase all the shares of Min and others directly through a designated third party if any party breaches contracts. The purchasing price per share under the call option is specified to be the lower nominal value per share and 70% of the fair value.

This means that while HYBE would have had to purchase the ADOR CEO’s shares for around ₩100 billion KRW (about $72.7 million USD) under normal circumstances, if they can establish that a breach of trust has occurred, they can buy the shares at the par value level. The purchasing scale at the par value is estimated to be ₩2.80 billion KRW (about $2.03 million USD) for Min’s shares and ₩3.20 billion KRW (about $2.33 million USD), including the management. This further implies that Min Hee Jin, who reportedly borrowed ₩2.00 billion KRW (about $1.45 million USD) to purchase 18% of the ADOR shares, might have to leave the company empty-handed.

Meanwhile, HYBE has stated that it doesn’t intend to fuel discourses that reduce its conflict with ADOR to a dispute over compensation or revenge.

You can read more about the recent developments in the HYBE vs ADOR feud here: