Could a Shareholder Showdown Shake Up Humm Groups Future?
Source: Kapitales Research
Highlights:
Humm Group Limited (ASX: HUM) is urging shareholders to vote against an activist push to remove three directors and appoint two new nominees at the February 19 meeting, warning it could harm the company’s stability at the time of writing.
The board has labelled the proposal by Jeremy Raper and Collins St Value Fund as “reckless and flawed”, arguing the nominees lack independence and relevant industry experience.
Humm pointed to its strong turnaround since mid-2022 — including lifting statutory profit from $2.9 million in FY23 to $40 million in FY25 — as evidence its current strategy is working.
Humm Group Limited (ASX: HUM) is urging its investors to reject a bold board challenge proposed by shareholder activist Jeremy Raper and the Collins St Value Fund ahead of a general meeting scheduled for 19 February 2026. At the time of writing, the company’s board argues that the attempt to remove three current directors and install new nominees could “inflict structural damage” on Humm’s capital strength, lender relationships, and long-term growth prospects.
What’s the Board Opposing?
Raper and Collins St Value Fund issued a Section 249F notice under the Corporations Act, signalling their intention to put forward resolutions to remove three of Humm’s directors — Andrew Abercrombie, Robert Hines, and Andrew Darbyshire — and appoint two new nominees, including Raper himself, at the forthcoming meeting. In response, Humm’s board has branded the activist move as “reckless and flawed”, warning that it could undermine the company’s stability. Executives contend that the proposed nominees lack independence and relevant experience, and that adopting the changes could lead to reactive, short-term decision-making rather than sustainable value creation for shareholders.
Board Defends Performance and Strategy
To bolster its stance, Humm Group’s board highlighted recent achievements, noting the firm’s performance since mid-2022. These include:
Increasing statutory net profit from $2.9 million in FY23 to $40 million in FY25
The board says this track record illustrates disciplined decision-making and trajectory toward stronger long-term performance — outcomes it argues could be jeopardised by sudden, activist-driven governance shifts.
What Shareholders Should Consider
As the February meeting approaches, Humm’s leadership is preparing a detailed communication to explain its reasons for opposing the proposed resolutions, including specific risks to capital and lender confidence associated with board turnover. Investors now face a pivotal choice: side with the current board’s defence of its strategic progress and continuity, or embrace the activists’ push for new leadership amid a broader backdrop of corporate pressure and potential acquisition interest in the company.
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The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Could a Shareholder Showdown Shake Up Humm Groups Future?
Highlights:
Humm Group Limited (ASX: HUM) is urging its investors to reject a bold board challenge proposed by shareholder activist Jeremy Raper and the Collins St Value Fund ahead of a general meeting scheduled for 19 February 2026. At the time of writing, the company’s board argues that the attempt to remove three current directors and install new nominees could “inflict structural damage” on Humm’s capital strength, lender relationships, and long-term growth prospects.
What’s the Board Opposing?
Raper and Collins St Value Fund issued a Section 249F notice under the Corporations Act, signalling their intention to put forward resolutions to remove three of Humm’s directors — Andrew Abercrombie, Robert Hines, and Andrew Darbyshire — and appoint two new nominees, including Raper himself, at the forthcoming meeting. In response, Humm’s board has branded the activist move as “reckless and flawed”, warning that it could undermine the company’s stability. Executives contend that the proposed nominees lack independence and relevant experience, and that adopting the changes could lead to reactive, short-term decision-making rather than sustainable value creation for shareholders.
Board Defends Performance and Strategy
To bolster its stance, Humm Group’s board highlighted recent achievements, noting the firm’s performance since mid-2022. These include:
The board says this track record illustrates disciplined decision-making and trajectory toward stronger long-term performance — outcomes it argues could be jeopardised by sudden, activist-driven governance shifts.
What Shareholders Should Consider
As the February meeting approaches, Humm’s leadership is preparing a detailed communication to explain its reasons for opposing the proposed resolutions, including specific risks to capital and lender confidence associated with board turnover. Investors now face a pivotal choice: side with the current board’s defence of its strategic progress and continuity, or embrace the activists’ push for new leadership amid a broader backdrop of corporate pressure and potential acquisition interest in the company.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au