Reference is made to the stock exchange announcement on 25 June 2025 from Black Sea Property AS ("Black Sea Property" or the "Company"), regarding the completion of the annual general meeting in the Company where it was inter alia resolved to increase the share capital in the Company through issuance of 17 new shares, each with a nominal value of NOK 0.05 (the "New Shares"), followed by reverse share split in the ratio of 100:1. Pursuant to the resolution, the New Shares were subscribed by MTB Invest AS.
The share capital increase relating to the issuance of the New Shares has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 0.85 through the issuance of 17 New Shares. The new share capital of the Company is NOK 13,091,880 divided by 261,837,600 shares, each with a par value of NOK 0.05.
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.