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

MT Newswires Live04-27

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment