Humm Group Limited – Costs Orders
The Panel has made costs orders (Annexure A) requiring Humm Group Limited (Humm) to pay a portion of the fair and reasonable costs incurred by Mr Raper in connection with these proceedings, as detailed below.
Atlas Arteria 02
Introduction
- The Panel, Katrina Efthim, John McGlue and Rory Moriarty (sitting President), declined to conduct proceedings on an application from IFM in relation to the affairs of Atlas Arteria. Atlas Arteria is currently the subject of an off‑market takeover bid by IFM.
Mobile Asset Holdings Ltd
Introduction
- The Panel, Kellie Benda, Rebecca Maslen‑Stannage (sitting President) and Georgina Varley, made a declaration of unacceptable circumstances in relation to the affairs of Mobile Asset Holdings Ltd. The application concerned a special resolution to insert drag‑along and tag‑along rights into Mobile Asset’s constitution. The Panel considered the drag‑along and tag‑along rights created a mechanism for the acquisition of 100% of Mobile Asset in a manner that circumvents the protections of Chapter 6.
Atlas Arteria
Introduction
- The Panel, Katrina Efthim, John McGlue and Rory Moriarty (sitting President), declined to make a declaration of unacceptable circumstances in relation to the affairs of Atlas Arteria.
Kingsland Minerals Ltd 02R – Panel Receives Review Application
The Panel has received an application from Quinbrook Asset Management Pty Ltd as trustee for the Critical Resources Strategy seeking a review of the Panel’s decision in Kingsland Minerals Ltd (see TP26/035).
The President of the Panel has consented to the application for review under section 657EA(2) of the Corporations Act 2001 (Cth).
A review 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.
Humm Group Limited – Reasons why the Panel decided not to consent to a variation to the Undertaking
The Panel notes the announcement by Humm Group Limited (Humm) on 15 June 2026 stating that the Panel had decided not to consent to a request from Humm Group Limited (Humm) to vary the undertaking provided by Humm to the Panel on 26 February 2026 (Undertaking – see TP26/09). The request to vary the Undertaking was to replace Ms Teresa Dyson with Mr Rajeev Dhawan as Chair of the independent board committee of Humm (IBC).
Kingsland Minerals Ltd – Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 4 June 2026 from Quinbrook Asset Management Pty Ltd as trustee for the Critical Resources Strategy in relation to the affairs of Kingsland Minerals Ltd (Kingsland).
Humm Group Limited 02R & 03R
Introduction
- The Panel, Rory Moriarty, Richard Phillips and Karen Phin (sitting President) affirmed the initial Panel’s1 declaration of unacceptable circumstances in relation to the affairs of Humm Group Limited, subject to minor variations, but set aside the initial Panel’s orders and made new orders. Instead of vesting Humm shares held by major shareholder TAG, the review Panel made orders that (among other things) required TAG not to vote 15 million of the Humm shares that it holds for 6 months.
Kingsland Minerals Ltd – Panel Receives Application
The Panel has received an application from Quinbrook Asset Management Pty Ltd as trustee for the Critical Resources Strategy in relation to the affairs of Kingsland Minerals Ltd. The application concerns an alleged association between certain shareholders and officers of Kingsland Minerals.
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.
Humm Group Limited
Introduction
- The Panel, Kelvin Barry (sitting President), Sandy Mak and Deborah Page AM, made a declaration of unacceptable circumstances in relation to the affairs of Humm Group Limited. The application concerned Humm’s engagement with, and disclosure of, the Credit Corp Proposal and the on-market purchases made by TAG, an entity controlled by Humm’s then Chair Mr Abercrombie, after Humm announced the Credit Corp Proposal in December 2025.