Takeovers Panel orders delay to Humm board spill vote amid ongoing review

The news: The Takeovers Panel has ordered a second adjournment of Humm Group’s extraordinary general meeting, previously slated for Friday, as it reviews “extensive submissions” relating to the board’s disclosure of a $385 million takeover proposal by Credit Corp, and the buying of shares by Humm founder Andrew Abercrombie.

The context: The panel has ordered the meeting, convened by Humm shareholders Jeremy Raper and Collins Street Asset Management, be postponed to a date “no earlier than 20 April 2026 and no later than 4 May 2026”.

The meeting was originally scheduled for 19 February, with Raper and Collins Street tabling a shareholder vote on the future of Humm directors Andrew Abercrombie, Robert Hines and Andrew Darbyshire.

The Takeovers Panel are continuing to investigate the board’s handling of Credit Corp’s 77 cents-per-share takeover bid, following an application by veteran investor Anton Tagliaferro in January.