Aim movers: CareTech, Verditek, Inspirit Energy, Caspian Sunrise, Immupharma

CareTech Holdings (LON: CTH) is recommending a 750p a share cash offer from a private equity backed management bid vehicle. The share price jumped 20.8% to 739.5p. This values the social care services provider at £870.3m. There is an alternative offer that enables shareholders the choice of taking non-voting shares in the bidder.

Verditek (LON: VDTK) distribution partner Bradclad Group is setting up a joint venture with Norway-based PVC roof membranes manufacturer Protan AB, which will use Verditek lightweight flexible solar panels. There has been 12 months of R&D and testing to perfect lamination of the solar panels to the roofing material. The first order is in England, but Protan will be sending samples to 35 distributors in Europe. The Verditek share price reached an all-time low of 1.3p last Thursday before rising to 1.8p on Friday. There has been a further 38.9% increase to 2.5p today.

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Inspirit Energy Holdings (LON: INSP) is the biggest mover on the day rising 47.5% to 0.0435p. The company’s waste heat recovery system, where waste heat exhaust is converted to energy, has completed the first phase of development. The unit has recorded an output of more than 30kW in the first stage build test period. Further enhancements will be made before there are trials. A marine version is also being developed. Inspirit Energy had £348,000 in the bank at the end of 2021, but the company has limited resources to push forward the development of the waste heat recovery system. The market capitalisation is £1.9m.

Oil and gas explorer and producer Arrow Exploration Corp (LON: AXL) shares rose 16.4% to 17p after better than expected results from the well test on the Tapir block on the Llanos Basin of Colombia. The well was drilled to 8,656 feet and encountered six hydrocarbon bearing intervals and was under budget. This is the third well on the block. Arrow Exploration believes that it is still on target to achieve a production rate of 3,000 barrels of oil equivalent per day.

Caspian Sunrise (LON: CASP) shares slumped 14.2% to 4.375p after taking a $12.5m impairment charge. The Kazakhstan-focused oil and gas producer has increased production to 4,050 barrels per day and this could be increased to 5,000 barrels per day.  In 2021, cash generated from operating activities was £7.76m, compared with an outflow in 2020. There have also been disappointing attempts to establish long-term flow rates for deeper structures. On the plus side, Caspian Sunrise says it could pay a dividend in 2022 following the recent capital reduction.

Orosur Mining Inc (LON: OMI) says that the latest drilling at the Anza project in Colombia has shown lower gold anomaly levels, although there are signs of high-grade zinc and copper at depth. However, the existing equipment cannot reach that depth. The share price slipped 8.3% to 8.25p.

ImmuPharma (LON: IMM) says that its US partner Avion Pharmaceuticals is seeking final regulatory guidance from the FDA ahead of the planned phase 3 trial of Lupuzor in Lupus patients. However, there appears to have been little progress since the announcement in May. A study has shown that Lupuzor is safe and well tolerated and been submitted to the FDA. The slow progress may be the reason for the fall in the share price by 5.3% to 5.91p. Avion has exclusive US rights and will fund the phase 3 trial.

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