HUM 2.27% 45.0¢ humm group limited

Ann: Change of Director's Interest Notice - A Abercrombie, page-7

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    Here's my contribution. Mr Abercrombie was a founding director of Flexi in 1991. He has been in and out of the board and Chair a few times, but is a consistent and passionate advocate for Humm, confirmed by his current daily routine of buying more shares. Last year the board of Humm sought to accept an offer from Latitude of $335 mil and Mr Abercrombie said at the time that the offer was 'horribly undervalued' and he valued the company at $470 mil. He also wanted more cash instead of Latitude scrip. With hindsight he was well justified. His very experienced and well credentialed board resigned over his unwillingness to support Latitude's bid, now Humm has MC of $230 mil, is making good returns and growing exponentially. I think there are 2 chances of Mr Abercrombie selling in the immediate term for anything less than at least double the current MC and I don't believe it would be within his dna to take the company private. Could be wrong.
 
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