Humm Group (ASX:HUM) established an independent board committee to consider, negotiate, potentially approve, and implement a conditional, non-binding and indicative proposal from Credit Corp Group (ASX:CCP) and any other proposals which may arise while Credit Corp's offer remains under consideration, according to a Thursday Australian bourse filing.

The committee adopted an independent board charter setting out its governance arrangements, scope, protocols, and terms of reference in a form acceptable to the Takeovers Panel, the filing said. It includes non-executive directors Andrew Darbyshire, Teresa Fleming, and Robert Hines.

Humm Group's shares fell past 2% in recent trading on Thursday, while Credit Corp Group's shares added 1%.