Humm Group Limited (ASX:HUM), a diversified financial services company that provides instalment plans enabling businesses and consumers to make large purchases, today announced it has received a notice under section 203D of the Corporations Act from Jeremy Raper and Collins Street Value Fund on December 15, 2025. The notice expresses an intention to move resolutions at a general meeting to remove directors Andrew Abercrombie, Robert Hines, and Andrew Darbyshire, along with any director appointed after December 15. The company has not yet received a section 249D notice requesting a meeting to consider these resolutions.
In a separate announcement, hummgroup confirmed receipt of a non-binding indicative proposal from Credit Corp Group Limited (ASX: CCP) to acquire 100% of hummgroup shares. The proposal, received on November 19, 2025, outlines two potential acquisition methods: a scheme of arrangement at $0.77 per share in cash (less any dividends or distributions declared after November 19, 2025), or an off-market takeover offer at $0.72 per share in cash (less any dividends or distributions declared after November 19, 2025), conditional upon Credit Corp achieving acceptances for 50.1% of hummgroup’s shares.
The hummgroup Board, supported by its financial and legal advisors, is currently evaluating Credit Corp’s proposal. They are committed to acting in the best interests of all hummgroup shareholders and are open to supporting a proposal that represents appropriate value. The Board has expressed willingness to engage constructively with Credit Corp to determine if a recommendable proposal can be developed, offering due diligence subject to a standard non-disclosure agreement.
The hummgroup Board emphasized that the proposal is non-binding, incomplete, and subject to numerous conditions, including due diligence, final Credit Corp Board approval, negotiation of binding transaction documents, unanimous recommendation by hummgroup’s Independent Board Committee, regulatory approvals, and finalization of Credit Corp’s financing arrangements. No binding agreement exists, and there is no certainty that any transaction will proceed. Hummgroup shareholders do not need to take any action at this time, and the company will continue to keep the market informed.
