Former WH Ireland directors make decision to exit quietly

FORMER WH Ireland directors Laurie Beevers and David Youngman yesterday ended their public squabble with the stockbroking firm’s board by resigning from the company.

Beevers and Youngman are thought to have decided to step down quietly in order to avoid a prolonged investigation into the events leading up to merger talks between WH Ireland and rival Blue Oar, which were abandoned in April.

The duo disagreed with the decision to walk away from the deal and are thought to have continued talking to Blue Oar’s owner Evolve Capital after official discussions were terminated.

Just a week after their suspension, they sold 5.36 per cent of their combined stake in the firm to Evolve.

It is unclear whether Beevers and Youngman plan to sell on their remaining 11 per cent stake, which some shareholders have suggested could tip the balance in favour of Evolve launching a counter-bid for the firm.

WH Ireland yesterday declined to comment on the reasons behind the pair’s departure.

Beevers could not be reached for comment.