Australia's Takeovers Panel Receives Review Application From Humm Group Founder Regarding Declaration of Unacceptable Circumstances

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Australia's Takeovers Panel received an application from Humm Group (ASX:HUM) founder and former Chair Andrew Abercrombie seeking a review of the Panel's decision to make a declaration of unacceptable circumstances in Humm Group, according to a Friday Australian bourse filing.

A review panel has not been appointed at this stage and no decision has been made whether to conduct proceedings, the Takeovers Panel said.

It had earlier made a declaration of unacceptable circumstances in relation to an application by Akat Investments regarding the planned acquisition of Humm by Credit Corp Group (ASX:CCP) because of their effect on the control, or potential control, of Humm.

Humm Group's shares fell past 2% in recent trading on Friday.

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