10 stories mentioning ASX:HUMUpdated 35d ago
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Humm Group (ASX:HUM) said it was informed by The Abercrombie Group that it decided not to nominate a candidate to Humm's board for the time being but will do so "when appropriate," according to a Tuesday Australian bourse filing.Humm's shares fell 2% in recent trading on Tuesday.
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.
Humm Group (ASX:HUM) said the Australian Securities and Investments Commission (ASIC) has informed its subsidiaries that the regulator has concluded investigations into certain matters relating to humm Cards, Flexicommercial and Flexirent Capital, according to a Monday Australian bourse filing.ASIC has indicated it will not take enforcement action at this time, but this does not imply that no breaches occurred, and it may restart its investigation or take enforcement action if circumstances change, per the filing.The regulator raised concerns over historical breach reporting and governance, reportable situation assessments, oversight of artificial intelligence credit decisioning systems, and potential unfair contract terms or unconscionable conduct in small business lending agreements, the filing said.The company has acknowledged ASIC's findings and said it is strengthening its governance and compliance frameworks, the filing added.The company's shares rose past 2% in recent Monday trade.
Australian shares were flat on Monday, as investors reacted to signs of progress in talks between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,816.10.Brent crude oil futures traded around $79 per barrel.Iranian negotiators said progress had been made in talks with the US, while mediators released a statement saying the first session of talks had concluded and progress had been made on a roadmap to reach a final deal.Iran earlier said it had once again closed the Strait of Hormuz.In company news, Inghams Group (ASX:ING) moved to a state of heightened biosecurity vigilance to mitigate against any potential risks after Australian authorities confirmed the detection of the H5N1 avian influenza strain in two wild birds found in the Esperance region of Western Australia. It clarified that there had been no detection of the virus in commercial poultry, including Ingham's operations and its supply chain.Metcash (ASX:MTS) reported fiscal year 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier. Revenue for the 12 months ended April 30 was AU$17.35 billion, compared with AU$17.32 billion a year earlier.Lastly, Credit Corp Group (ASX:CCP) ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms. Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer.
(Updates to add stock movement in the headline and fourth paragraph)Credit Corp Group (ASX:CCP) has ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms, according to a Monday filing with the Australian bourse.Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer, per the filing.Humm Group confirmed that a mutually acceptable transaction could not be reached, resulting in both parties ending discussions, the filing added.Credit Corp Group's shares rose past 1% in midday trade Monday, while Humm Group's shares were down 18%.
Credit Corp Group (ASX:CCP) has ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms, according to a Monday filing with the Australian bourse.Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer, per the filing.Humm Group confirmed that a mutually acceptable transaction could not be reached, resulting in both parties ending discussions, the filing added.
Humm Group (ASX:HUM) said the Federal Court of Australia awarded party‑to‑party costs of AU$3.25 million, which were paid in full on May 6, in the proceedings brought by SMBC Leasing and Finance against Humm and its wholly-owned unit, Flexirent Capital, according to a Tuesday Australian bourse filing.The court on May 5 ordered that Flexirent and Humm pay SMBC AU$3.25 million as SMBC's costs of the proceedings fixed as a lump sum by the court.The firm had paid SMBC damages and interest totalling AU$19.5 million on March 2. Humm increased its provision for this matter to AU$19.0 million, after the court judgment on Jan. 30. In March, the firm recognized a separate provision of AU$3 million for costs associated with the proceedings.
Humm Group (ASX:HUM) and Credit Corp Group (ASX:CCP) were named as two of the defendants in proceedings filed in the High Court of Australia on Wednesday, consisting of an application for constitutional writs and an interlocutory application, by Andrew Abercrombie, founder and former Chair of the firm, and The Abercrombie Group as trustee for the Philadelphia Trust, according to a Thursday Australian bourse filing.The other defendants are the Takeovers Panel, the Australian Securities and Investments Commission, Akat Investments, Jeremy Michael Kersten Raper, and Sandhurst Trustees as custodian for Collins St Value Fund.By the application for constitutional writs, the plaintiffs seek writs of certiorari to quash the declaration of unacceptable circumstances made by the Takeovers Panel on April 17 April and the orders made by thePanel on April 24. The plaintiffs also seek declarations that the declaration and the orders are invalid.By the interlocutory application, the plaintiffs seek orders that the extraordinary general meeting of Humm convened by Raper and Sandhurst Trustees, which was to be resumed on May 13, be further adjourned.Abercrombie and his associates currently own 29.55% Humm's issued shares.
Humm Group's (ASX:HUM) shares rose over 1% in recent trading on Monday after the Takeovers Panel on Friday set aside the orders made by the initial panel in Humm Group and made new orders.The new orders made by the review panel do not require The Abercrombie Group, an entity controlled by Humm's founder and former chair Andrew Abercrombie, to dispose of any shares. Instead, they require The Abercrombie Group not to vote 15 million of the Humm shares that it holds for around six months.The new orders require Humm to disclose certain information material to shareholders' assessment of the likelihood of progression of Credit Corp's proposed acquisition of Humm.The new orders also require The Abercrombie Group to continue to hold at least 15 million Humm shares until six months after the date of the disclosure, but those shares can be accepted into a bid made byCredit Corp.
Humm Group (ASX:HUM) said that Australia's Takeovers Panel made interim orders staying the orders made by the initial Panel after receiving an application from Andrew Abercrombie, the firm's founder and former Chair, seeking a review of the Panel's decision to make orders in Humm Group, according to a Monday Australian bourse filing.The application will be heard by the same review panel that is considering Abercrombie's application for a review of the initial Panel's decision to make a declaration of unacceptable circumstances in relation to an application by Akat Investments.The orders made by the initial Panel will not take effect until the earliest of either further order of the review Panel, the determination of the proceedings, or two months passing from the date of the interim orders.Its shares rose 1% in recent trading on Tuesday.
