Humm Group Shares Rise as Takeovers Panel Sets Aside Initial Panel Orders, Makes New Orders

-- 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 by

Credit Corp.