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Pin to quick picksCaspian Sunrise Share News (CASP)

Share Price Information for Caspian Sunrise (CASP)

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Share Price: 3.35
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AIM WINNERS & LOSERS: CareTech accepts offer; Caspian loss widens

Mon, 27th Jun 2022 11:29

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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AIM - WINNERS

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Inspirit Energy Holdings PLC, up 48% at 0.044p, 12-month range 0.02p-0.08p. The heat and power appliances manufacturer says waste heat recovery system achieved record output in a test. The system is a major component in the application for the Volvo Marine engine and other heat recovery applications. The unit, which is being built and tested in Poland, recycles waste heat exhaust and converts it to energy. Inspirit says that the unit has provided the highest recorded output of over 30 kilowatt in the first-stage build test period. The company calls this "a remarkable achievement in Inspirit's history".

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CareTech Holdings PLC, up 21% at 739.00p, 12-month range 530.00p-773.00p. The residential social care and education services provider accepts a GBP870.3 million takeover bid from consortium that includes its founders. The offer from Amalfi Bidco Ltd, a consortium which features CareTech founders Farouq and Haroon Sheikh and THCP Advisory Ltd, has support of over 50% of shareholders. The consortium will pay 750p cash per share, a 28% premium to CareTech's share price on March 4, the day before the Sheikh brothers said they were in the "early stages" of forming a takeover consortium. The Sheikh consortium in April lifted its takeover proposal to 750p from 725p previously. CareTech had already been "minded to recommend" that 725p offer, the Sheikh brothers noted in April.

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Big Technologies PLC, up 6.7% at 257.90p, 12-month range 188.21p-385.00p. Berenberg starts coverage on the monitoring technology firm with a 'buy' rating.

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AIM - LOSERS

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Caspian Sunrise PLC, down 12% at 4.50, 12-month range 2.10p-5.90p. The oil and gas explorer posts higher loss for 2021 as it took an impairment cost it did not have in 2020, but Caspian touts prospect of future dividends. Pretax loss widens to USD4.8 million from USD1.7 million in 2020. Revenue rises to USD25.0 million from USD14.3 million but is offset by an impairment cost on unproven oil and gas assets of USD12.5 million, versus no such charge in 2020. Selling expenses nearly double to USD7.6 million from USD3.9 million.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Caspian Sunrise Agrees First Sale Of Oil From MJF Structure In BNG

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