Finance provider Humm Group (ASX:HUM) has been referred to the Takeovers Panel following allegations of misconduct regarding a takeover bid from Credit Corp (ASX:CCP).
The application, lodged by shareholder Akat Investments—an entity linked to investor Anton Tagliaferro—claims the Humm board failed to disclose Credit Corp's $0.77-per-share offer for nearly a month after receiving it in November 2025.
During this period of silence, Humm Chairman and founder Andrew Abercrombie allegedly increased his stake in the company to 29.19%.
Akat contends that Abercrombie had access to sensitive internal data, including a 100-page information pack and details on a major contract win, creating a "period of informational asymmetry" while he was buying shares.
The dispute intensifies an existing boardroom battle, as activist investors move to oust Abercrombie and two other directors at an upcoming meeting on Feb. 19.
Akat is now seeking orders to freeze the voting rights of Abercrombie’s recently purchased shares and compel the board to grant Credit Corp equal access to due diligence.
While the Takeovers Panel has received the application, it has yet to decide whether to conduct formal proceedings.