hummgroup (ASX:HUM), a diversified financial services company providing instalment plans for businesses and consumers, has updated the market regarding the non-binding indicative proposal from The Abercrombie Group Pty Ltd (TAG). The proposal, initially announced on 25 June 2025, involves TAG acquiring hummgroup for $0.58 cash per share. hummgroup operates in Australia, New Zealand, Ireland, Canada, and the United Kingdom.
To assess TAG’s ability to formulate an offer beneficial to shareholders, hummgroup’s Independent Board Committee (IBC) has granted TAG limited, non-exclusive access to certain non-public information. A confidentiality agreement has been established, and due diligence is scheduled to begin this week.
The company emphasises that providing limited due diligence does not guarantee a binding offer or one that the IBC can recommend. Shareholders are advised to take no action at this time.
hummgroup will continue to update the market in accordance with its continuous disclosure obligations. Flagstaff Partners is serving as hummgroup’s financial advisor, while K&L Gates is acting as its legal advisor. The release of this announcement was authorised by the IBC.
