Andrew Abercrombie has beefed up his stake and asked shareholders to vote down the proposed sale of the buy now, pay later business to Latitude.
Dissenting director Andrew Abercrombie has stepped up his battle with the Humm Group board over the proposed sale of its buy now, pay later business to Latitude Financial, buying more than 5.2 million shares.
“Increasing my stake in Humm Group confirms that I’m prepared to put my money where my mouth is when it comes to my belief in this company – and its value,” Mr Abercrombie said. Latitude is offering $35 million in cash and 150 million in shares to purchase Humm’s consumer finance assets, which include its buy now pay later businesses Bundll, Humm, Humm90 and HummPro. Humm would remain listed and keep its commercial finance arm called Flexicommercial, a business Mr Abercrombie founded, after the sale.
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