Reference is made to the stock exchange announcement on 9 September 2025 from Black Sea Property AS ("Black Sea Property"), regarding the resolution by the general meeting in the Company to carry out an rights issue to raise gross proceeds of up to NOK 10,000,000 through issuance of up to 200,000,000 new shares (the "Offer Shares") at a subscription price of NOK 0.05 per Offer Share. Refrence is further made to the stock exchange announcement on 15 October 2025 regarding the results of the rights issue.
The share capital increase relating to the issuance of Offer Shares has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 10,000,000 through the issuance of 200,000,000 Offer Shares. The new share capital of the Company is NOK 23,091,880 divided by 461,837,600 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.