Excerpts
"According to the music industry on the 23rd, there were at least three documents that Hive found while securing Adore's computer assets the day before.
This document is a work diary written by Mr. A, a close associate of CEO Min Hee-jin, on the 23rd and 29th of last month.
In the document dated the 23rd, under the title ‘Agenda’, ‘1. It is reported that there are subheadings such as ‘Management Planning’ and detailed scenarios such as ‘Agreement to Change Contract’ written underneath them.
In particular, in this document, it is known that under the heading 'Summary of plan 1 and 2 to attract external investors', the section 'How can G·P survive' and the name of the internal person in charge were also mentioned.
Hive sees G as the Singapore Investment Corporation (GIC) and P as the Saudi Sovereign Wealth Fund (PIF).
It can be seen that Hive was seeking a plan to sell some of its shares in Adore to the Singapore Investment Corporation or Saudi Arabian sovereign wealth fund.
This document also contained the sentence ‘How to sell Hive’ and the name of another person in charge. This can be interpreted as a concern to pressure Hive in some way to sell Hive's current 80% stake in Adore."