In the original stock exchange notice, the new share capital and new number of shares was incorrect. Please see updated stock exchange notice below.
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Reference is made to the stock exchange notice by Black Sea Property AS (the "Company") on 30 June 2021 and the general meeting's decision from the same day regarding approval of a merger plan between the Company and Bulgaria Eiendom Invest AS (the "Merger"), as well as share capital increases pertaining to (i) issuance of 6,903,277 consideration shares to be delivered to the shareholders of Bulgaria Eiendom Invest AS upon completion of the Merger, and (ii) a subsequent repair offering (the "Subsequent Offering").
The Company is pleased to inform that the Merger with Bulgaria Eiendom Invest AS has now been completed, with the effect that Bulgaria Eiendom Invest AS has been merged into the Company. Furthermore the share capital has been increased in connection with the Merger with NOK 1,725,819.25 through issuance of 6,903,277 new shares, each with a par value of NOK 0.25, issued at a subscription price of NOK 3.00.
As announced on 19 July 2021, at the end of the subscription period for the Subsequent Offering, the Company had received subscriptions for a total of NOK 1,455,489 through the issuance of 485,163 new shares, each with a subscription rate of NOK 3.00, which implies an increase of the share capital with NOK 121,290.75
The share capital increases pertaining to the Merger and the Subsequent Offering has now been registered with the Norwegian Register of Business Enterprises, and the new share capital in the Company is thus NOK 9,722,658 divided into 38,890,632 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@em-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 partially completed 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.