Humm Group (ASX:HUM) has been ordered by the Takeovers Panel to pay nearly AU$44,600 to shareholder Jeremy Raper after the Panel found the company's conduct disrupted and delayed proceedings and increased costs, according to an Australian bourse filing on Monday after market hours.
The Panel found that the company disrupted, hindered, and delayed the proceedings between March 5 and March 17 by making submissions that were inconsistent with its earlier position, prompting further submissions and contributing to the postponement of the extraordinary general meeting to May 1 from March 13, per the filing.
The Panel also ordered the company to pay Raper's costs for monitoring compliance with an undertaking accepted on Feb. 26, citing its failure to keep the Panel adequately informed of key aspects of that compliance, the filing said.
The Panel said payment has been deferred for 90 days because of ongoing judicial review proceedings in the Federal Court, with parties retaining the right to seek changes to the costs order.
Humm Group did not immediately reply to' request for comment.