Last checked at 
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
----------
REA Holdings PLC - crude palm oil producer - Harvests 785,850 tonnes of of fresh fruit bunches in 2020, down from 800,666 tonnes in 2019. A further 181,515 tonnes of fresh fruit bunches were third party harvested, taking the total to 971,365 tonnes from 999,403 tonnes the prior year including 198,737 from a third party. Annually, 948,261 tonnes of fresh fruit bunches were processed, down from 979,411 tonnes year-on-year. Crude palm oil production dipped to 213,536 tonnes from 224,856 tonnes. Production of palm kernels rose, however, to 47,186 tonnes from 46,326 tonnes with crude palm kernel oil production up at 16,164 tonnes from 15,305 tonnes. Extraction rates for crude palm oil dipped to 22.5% from 23.0% while palm kernel extraction rose to 5.0% from 4.7%. The crude palm kernel oil extraction rate fell to 39.5% from 40.7%. Across REA's estates, average rainfall rose to 2,061 millimetres from 3,057 millimetres. Crude palm oil prices dropped to USD510 per tonne in May from USD860 per tonne January 1 but began to recover and closed 2020 at USD940 per tonnes. Expects to post higher earnings before interest, tax, depreciation and amortisation in its second half compared to its USD11.2 million interim Ebitda. However, strengthening of the Indonesian rupiah and sterling against the US dollar will likely mean a reversal of gains booked in the first half. In talks with banks for further financing, as currently has debt of USD39.8 million due for repayment in 2021 and 2022 and is due to repay USD27.0 million of US dollar notes at June end.
----------
PRS REIT PLC - real estate investment trust focusing on new-build family homes for the private rental market - Seeks shareholder approval to amend investment policy to limit gross committed but unspent construction costs to 25% of PRS's gross asset value at time of commitment. Also proposed to shrink limit on investment in single development site or investment site to 10% from 20% of gross assets. "The company is satisfied that the proposal will not limit its business plan or impede its delivery of the investment objectives of the company and its stated strategy," says PRS.
----------
Iconic Labs PLC - media company - Receives termination notices for management service agreements with Greencastle Capital for TheLondonEconomic, with management service agreement for JOE Media and Lovin' Media terminated. The agreements represent the most significant proportion of Iconic's revenue to date. Termination notices cite the resignation of senior management team and likely replacement with a Cypriot hotel team. The management team of John Quinlan, Liam Harrington and Sam Asante have all resigned due the the failure of European High Growth Opportunities Securitization Fund to accept a revised settlement offer as well as outstanding issues with OTT Holdings Ltd and Alpha Blue Ocean.
----------
Kavango Resources PLC - exploration company targeting mineral deposits in Botswana - Inks contract with SkyTEM Surveys ApS for 2,389 kilometres of airborne electromagnetic surveys over its Kalahari Copper Belt interests. These include the South Ghanzi project, where Kavango holds 50% working interest in licences PL036/2020 and PL037/2020 as part of a strategic joint venture with Power Metal Resources PLC and the LVR project, where Kavango is earning in a 90% interest in licences PL082/2018 and PL 083/2018 under a joint venture with LVR GeoExplorers Pty Ltd. Power Metal notes Kavango's signing of the contract.
----------
Angus Energy PLC - UK-focused onshore oil and gas development company - Says a further 15.0 million shares placed at 1 pence per share, raising GBP150,000, to satisfy further demand after announcing its GBP1.5 million placing on Wednesday last week. Notes that: "The placing monies will be used by the company to advance the company's current assets and for general working capital purposes."
----------
Clear Leisure PLC - investment company focused on the technology sector - Bologna court elects to continue company's EUR1.0 million legal claim against the previous management of Sosushi via an arbitration process. This process began January 18 and will conclude with a legally binding decision. It is expects to conclude within one year of independent accountants being appointed to preside over the arbitration process. Clear Lesisure says: "The company and its lawyers are confident with the strength of the company's case."
----------
By Anna Farley; annafarley@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
