Humm Group (ASX:HUM) offered voluntary undertakings to establish an independent board committee to consider and respond to the conditional, non-binding and indicative proposal from Credit Corp Group to acquire 100% of the shares in the firm, which the Takeovers Panel accepted, according to a Monday Australian bourse filing.

The Panel had informed the firm that it considers an independent board committee (IBC) should have been established by it to consider the proposal to mitigate the effect of any actual, potential, or perceived conflict of interest of Humm director Andrew Abercrombie.

Its shares fell 1% in recent trading on Monday.