Reference is made to the stock exchange notice from Black Sea Property AS (the "Company") on 28 May 2024 regarding, inter alia, a proposed partially underwritten rights issue (the "Rights Issue") where the underwriters have provided the Company with certain shareholder loans and shall convert such shareholder loans and accrued interest to fulfil their underwriting obligations in the Rights Issue.
The share capital increase pertaining to the Rights Issue must be approved by the Company's general meeting. The Board of Directors of the Company therefore calls for an extraordinary general meeting to be held on 16 September 2024 at 14.00 CEST, at the offices of Advokatfirmaet CLP DA, Sommerrogata 13-15, 0255 Oslo, Norway.
The notice for such extraordinary general meeting is attached to this stock exchange notice. The Board's statement on conversion of the shareholder loans, and the auditor's opinion regarding the Board's statement, will be made available at the web pages of the Company, www.blackseaproperty.no.
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 River Beach Resort. Sunrise River Beach Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space. Black Sea Property AS has indirect ownership to the project and will work to finalize Sunrise River Beach Resort, to realize the project's added value through the sale of residential units and hotel operations.