The Takeovers Panel has formally declared "unacceptable circumstances" regarding the conduct of ASX-listed Humm Group (ASX:HUM) during a buyout attempt by Credit Corp (ASX:CCP).
The market watchdog found that Humm issued misleading announcements, specifically citing a Dec. 17, 2025 statement which claimed the board was "carefully evaluating" a 77-cent-a-share offer.
The Panel determined that Humm Chair and major shareholder Andrew Abercrombie had already decided to reject the proposal weeks prior.
Further "misleading omissions" were identified, including a failure to disclose that no independent board committee would be formed and a January circular that falsely implied ongoing engagement with Credit Corp.
Additionally, the Panel flagged Abercrombie's acquisition of a 3% stake in Humm in late 2025 as unacceptable, noting it could improperly influence control outcomes and shareholder voting.
At the time of reporting, the share prices of Humm Group and Credit Corp were $0.68 and $10.60, respectively.