Humm Group ends takeover talks with Abercrombie Group

Humm Group Limited confirmed that discussions concerning the unsolicited non-binding indicative proposal from The Abercrombie Group Pty Ltd ("TAG") to acquire Humm Group have ended, with TAG withdrawing its proposal.

Andrew Abercrombie, TAG's principal and chair of Humm Group, stated that TAG's funded scheme proposal was intended to offer shareholders a 35% premium to the undisturbed trading price, but it became evident the proposal lacked support from several key shareholders. Robert Hines, chair of Humm Group's Independent Board Committee (IBC), noted the IBC's focus is on driving shareholder value through operational execution and disciplined capital allocation.

The premium was based on a proposal price of 58 cents per share compared to Humm Group's closing share price of 43 cents per share on 24 June 2025. Humm Group operates in Australia, New Zealand, Ireland, Canada, and the United Kingdom, providing instalment plans and commercial lending.