Brady plans takeover bid for EERNL

Aim-listed natural resources investment firm Brady Exploration yesterday announced that it is looking to acquire Energy Equity Resources (Norway) Limited (EERNL) in a reverse takeover. The deal, which would be paid via the issue of new shares in Brady to the shareholders of EERNL, is conditional on shareholder approval and the raising of additional equity finance. EERNL is a UK incorporated company with oil and gas interests in Nigeria.