A round-up of today's other stories in brief

B of I offers to help company meet its debts

The Bank of Ireland has offered conditional backing to a company developing retirement villages which is unable to meet its debts, the High Court was told yesterday.

HC Developments Ltd, Convent Road, Clonakilty, Co Cork, which is building a retirement village in Co Meath, was put under interim examinership last week on the application of its directors Danny and Kathleen Lordan.

Mr Bernard Dunleavy, counsel for the company, told Mr Justice Roderick Murphy it had run into financial difficulties in a €41 million development at Longwood Road, Trim, Co Meath. He said the company has €9.8 million debts.

Judge Murphy adjourned the matter for a week.

Trinity transfers Norkom stock

Trinity Venture Capital has transferred 1.5 million shares in technology firm Norkom to individuals including Denis O'Brien and Gavin O'Reilly. The individuals in question were already the beneficial owners of the stock. After the transfer, Trinity was left with 29.13 per cent of Norkom.

The stock closed at 98.5p in London last night.

Diamond exporter boosted by find

AIM listed diamond exporter African Diamonds has announced what it says is a positive set of results from a diamond discovery in the Orapa province, Botswana. Evaluation of the discovery is to continue.

Dragon Oil tests Turkmenistan well

Dragon Oil has said it has had a successful workover of a well in offshore Turkmenistan. The company said the well was tested at an initial rate of 1,287 barrels of oil per day. Prior to the workover, the well was not in production.

EBS approves new business approach

Members of the EBS building society have approved the adoption of new legislation that will allow the society to develop its business in new ways and to boost its options when raising capital. The motion was approved at a special general meeting held in Dublin yesterday. The society's chairman, Brian Joyce, has said that the EBS remains opposed to demutualisation and is committed to maintaining its status as a mutual society into the future.

Merrion Capital to open Cork office

Merrion Capital is to open a Cork office to serve the Munster region. The new office is to be managed by Rose McHugh, who is to step down as deputy chief executive of West Cork Co-op SWS.

Prior to joining SWS Ms McHugh was a senior tax director of Ernst & Young.

United Drug shares raise €72,000

United Drug director Luke Brehony has raised €72,200 by selling shares in the company. Mr Brehony sold 20,000 shares at €3.61 each on Monday.

The stock closed at €3.55 last night, up 7 cent on the day.