Reference is made to previous stock exchange announcements and the general meeting's decision to resolve a private placement of minimum 43,225,000 new shares (the "Private Placement") in Black Sea Property AS (the "Company") at a subscription price of NOK 0.20 per share.
The share capital increase related to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 432,250 through issuance of 43,225,000 new shares, each with a par value of NOK 0.01.
The Company's new share capital is thus NOK 1,384,935.83 divided into 138,493,583 shares, each with a par value of NOK 0.01.
For further information, please contact:
Egil Melkevik, Chairman
Tel: +47 90 77 09 76
E-mail: egil.melkevik@imenco.com
About Black Sea Property AS:
Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast called Aheloy Beach Resort. Aheloy Beach Resort is a partially-completed project and will upon completion comprise over 1,000 apartments as well as significant commercial space. Black Sea Property AS owns indirectly 75% of the project. Black Sea Property AS will work to finalize Aheloy Beach Resort, to realize the project's added value through the sale of residential units and hotel operations.