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‘The proverbial fat lady hasn’t sung yet’: The bizarre, unending Humm Group saga continues

Founder and former chair Andrew Abercrombie jumped from the board before his fellow shareholders had the chance to push him. But he might be playing a longer game.

Hugo Mathers
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The buy now, pay later company has endured one of the market’s most public board battles this year. Humm Group.

Humm Group’s long-awaited, thrice-postponed extraordinary general meeting may have turned out to be something of a damp squib on Wednesday after the company’s founder and largest shareholder Andrew Abercrombie chose to quit the board rather than face a shareholder vote to decide his fate.

But there’s reason to believe that this is only the start of an already long, winding and bizarrely complicated saga surrounding the $340 million ASX-listed fintech.

“Compromises are always good, well done to everyone,” said one shareholder during the meeting, which took place at Thomson Geer’s Sydney offices.

“But I just wanted to clarify, because this, to me, may be the end of the game. But potentially the proverbial fat lady hasn’t sung yet, knowing Andrew Abercrombie and his determination.”