On 26 February 2026, the Panel accepted an undertaking from Humm Group Limited (Humm) on the issues of insider participation and management of conflicts of interest in relation to an application submitted on 26 January 2026 by Akat Investments Pty Ltd in relation to the affairs of Humm (Undertaking) (see TP26/009).
Among other things, Humm undertook to:
The review Panel has affirmed the declaration of unacceptable circumstances made by the initial Panel in Humm Group Limited (see TP26/011 and TP26/012), subject to minor variations following the receipt of submissions clarifying inconsistencies in the materials before the initial Panel.
A copy of the varied declaration of unacceptable circumstances (showing changes in mark‑up) is attached.
The Takeovers Panel notes the reappointment of 13 members and the appointment of four new members to the Panel for terms of three years, effective 2 April 2026.
The following members have been appointed: Mr Justin Harris, Dr Jane McAloon AM, Ms Christine McLoughlin AM and Ms Antonella Pacitti. The President and the Panel executive warmly welcome the new members.
The Panel has received an application from Mr Andrew Abercrombie seeking a review of the Panel’s decision to make orders in Humm Group Limited (see TP26/017).
This application will be heard by the same review Panel that is considering Mr Abercrombie’s application for a review of the initial Panel’s decision to make a declaration of unacceptable circumstances in Humm Group Limited (see TP26/012).
The Panel has declined to conduct proceedings on an application dated 30 March 2026 from Cue Energy Resources Limited (Cue) in relation to its affairs. Cue is currently the subject of an off‑market takeover bid by Horizon Oil Limited (Horizon) (see TP26/13).
The Panel has made final orders (Annexure A) in relation to an application submitted on 26 January 2026 by Akat Investments Pty Ltd in relation to the affairs of Humm Group Limited (Humm) (see TP26/005).
The Panel has accepted an undertaking from Echelon Resources Limited in relation to the application dated 30 March 2026 by Cue Energy Resources Limited (see TP26/013).
Echelon has undertaken not to accept the off‑market takeover bid made by Horizon Oil Limited for all of the ordinary shares in Cue in which Horizon does not have an interest, in respect of any Cue shares held or controlled by Echelon (other than those the subject of the pre‑bid agreement between Echelon and Horizon), before Monday, 13 April 2026.
The Panel has received an application from Andrew John Barlow, as director of Venturian Pty Ltd ATF Maverick Innovation Trust, in relation to the affairs of Mobile Asset Holdings Ltd (Mobile Asset).
Details of the application, as submitted by the applicant, are below.
A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.