Reference is made to the general meeting's decision on 3 February 2020 to resolve a subsequent offering through issuance of up to 2,300,000 new shares (the "Subsequent Offering") in Black Sea Property AS (the "Company") at a subscription price of NOK 2.00 per share. As announced on 21 February 2020, a total of 2,194,073 new shares were issued in the Subsequent Offering.
The share capital increase related to the Subsequent Offering has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 548,518.25 through issuance of 2,194,073 new shares, each with a par value of NOK 0.25.
The Company's new share capital is thus NOK 4,160,787.00 divided into 16,643,148 shares, each with a par value of NOK 0.25.
For further information, please contact:
Egil Melkevik, Chairman
Tel: +47 90 77 09 76
E-mail: em@ms-solutions.no
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 Sunrise Gardens. Sunrise Gardens Resort is a partially completed project and will upon completion comprise approximately 950 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 Sunrise Gardens Resort, to realize the project's added value through the sale of residential units and hotel operations.