Reference is made to the resolution by the annual general meeting of Black Sea Property AS (the "Company") on 25 June 2025, regarding, inter alia, a share consolidation (reverse share split) of the Company's shares in the ratio of 100:1. Key information related to the share consolidation is set out below:
• Reverse split ratio: 100:1, i.e. one hundred (100) old shares give one (1) new share
• Date on which the corporate action was made public: 5 June 2025
• Last day including right: 4 November 2025
• Ex-date: 5 November 2025
• Record Date: 6 November 2025
• Date of approval: 25 June 2025
Following completion of the share consolidation, the par value of the Company's shares will be increased from NOK 0.05 to NOK 5. Shareholders who do not own a number of shares which can be divided by 100 shall, in connection with the reverse share split, have their shareholding rounded downwards, so that the shareholder receives a whole number of shares. Fractional shares will not be issued, and the shareholder will not receive any compensation for the rounding. The fractional shares will be added together to whole shares and will be sold at Euronext Growth Oslo. The Company will receive the net proceeds from such sale.
In connection with the reverse share split, the Company's shares will be transferred to a new ISIN. Key information for the change of ISIN is set out below:
• Issuer: Black Sea Property AS
• Previous ISIN: NO0010755101
• New ISIN: NO0013685750
• Date of ISIN change: 5 November 2025
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.