Abrdn Property Share News (API)

Packaging and holograms supplier API Group has completed the sale of its 51% interest in loss-making foil manufacturer Shanghai Shen Yong Stamping Foil for $2.8m.Egdon Resources is to acquire the entire interest of fellow oil and gas firm Valhalla in two UK petroleum exploration and development licences (PEDLs).Egdon is acquiring a 50% stakes in both PEDL 180 and PEDL 181, which are located in Lincolnshire. The consideration for the acquisition will be the grant to Valhalla of a net profit interest (NPI) of 10% of the acquired interest in each of the licences. The NPI will be payable from any revenues after recovery of allowable exploration, development and production costs.Shares in New World Resources dipped on Friday after the hard coal and coke producer said the proportion of coking coal in the sales mix in 2010 was lower than anticipated, which affected the group's revenues for the year. "The relative shortfall in anticipated coking coal production from one of our mines was partially offset by a significant increase in production of predominantly thermal coal from another mine," the company said.Electricity generating glass maker Romag has received a conditional offer of new debt facilities from Lloyds Banking Group. At this stage the terms have yet to be finalised but it is expected that they will include a commitment fee and an increase in the overall cost of the company's borrowings going forward on an annualised basis.Marketing communications and advertising firm, the Mission Marketing Group, expects full-year profits to be "slightly" ahead of City expectations as trading improved in the second half of 2010.But bosses are cautious about prospects for the coming year as the consumer has yet to experience the impact of the various Government debt reduction measures and marketing budgets will likely remain under extreme pressure. AIM-listed private equity investor Origo Partners is raising between $60m-80m via a placing of new redeemable, convertible, zero-dividend preference shares "to take advantage of new identified investment opportunities".The Convertible Preference Shares will be issued at $1, have a five year period to maturity and will be convertible into ordinary shares at 60p each.Online directory group Infoserve expects full-year results to fall short of previous expectations after the extreme weather conditions in November and December.The disruption resulted in a revenue shortfall of about £60,000, it said in a statement released before the close of trade."It is unlikely that this trading shortfall will be recovered over the remaining three months of the financial year and the Directors therefore expect the Company's final results for the year ending 31 March 2011 to be below previous expectations," it said.