In Short

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

Trinity Biotech to raise $25m in share placing

Clinical products company Trinity Biotech said it planned to raise $25 million (€20 million) through a share placing in the US to fund the general development of the business.

The Irish firm said it has agreed to sell almost 2.7 million American Depositary Shares (ADSs) at $8.60. The closing of the placing is scheduled for April 11th. Chief executive Ronan O'Caoimh agreed to buy almost 225,000 ADSs at $8.95 per share. Yesterday the shares closed up 6 per cent, at €1.99, in Dublin.

Newcourt to place 6.9m shares

Security and recruitment services group Newcourt yesterday said it planned to raise €9.1 million through the placing of 6.9 million shares. This is equal to 10 per cent of the group's total share capital.

The shares, which will be sold at €1.32 each, are expected to commence trading on Dublin's IEX and London's AIM on April 12th.

Newcourt, which has already bought two companies so far this year, said it will use the proceeds to fund future acquisitions.

African Eagle finds high-grade copper

Exploration group African Eagle Resources said the results from its latest drilling programme at the Mkushi copper project in central Zambia showed substantial high-grade copper zones existed within the site.

African Eagle is currently undertaking an economic feasibility and scoping study at the site. A decision on its commercial feasibility will be made by the end of 2007.

Merck in Irish R&D strategy

US drug manufacturer Merck & Co this week launched a research and development partnering strategy in Ireland.

The New Jersey-based company hopes to work with Irish companies on common pharmaceutical R&D projects. Merck this week met nearly 120 Irish biotechnology and pharmaceutical companies, academic centres and venture capital firms.

Submissions on DAA charges

The aviation regulator plans to invite submissions next week on its decision to allow Dublin Airport Authority (DAA) to increase charges by 23 per cent.

Last year, the Commission for Aviation Regulation (CAR) ruled that the DAA could increase charges by 23 per cent, while the authority sought a hike of 50 per cent.

But the Aviation Appeal Panel partially upheld an appeal against the ruling this week. The DAA now plans to publish its report and seek submissions.

Clonheath gets RTÉ contract

RTÉ has appointed Clonheath to handle its creative and media business.

Clonheath, a company formed by Rothco and Vizeum, beat off McCann Erickson and Young Euro RSCG, which has provided creative and media services to RTÉ for the past 10 years.