Reference is made to the stock exchange announcement byBlack Sea Property AS (the "Company") on2 October 2023 regarding the successful placing of a private placement raising gross proceeds of approximatelyNOK 5.8 million through issuance of new shares ("Offer Shares ") in the Company with a subscription price ofNOK 0.25 perOffer Shares (the "Offer Price "). The following persons discharging managerial responsibilities and their close associates have been allocatedOffer Shares in the Private Placement at the Offer Price: o MTB Invest AS, a company controlled by chairman Egil Melkevik, has been allocated 560,000Offer Shares at the Offer Price, corresponding to a total subscription amount ofNOK 140,000 ; o Christinedal AS, a company controlled by board memberHans Gulseth , has been allocated 2,200,000Offer Shares at the Offer Price, corresponding to a total subscription amount ofNOK 550,000 ; o Rødningen Invest AS, a company controlled by board member Kåre Rødningen, has been allocated 560,000Offer Shares at the Offer Price, corresponding to a total subscription amount ofNOK 140,000 ; o DEA Holding AS, a company controlled by board memberDag Espen Arnesen , has been allocated 400,000Offer Shares at the Offer Price, corresponding to a total subscription amount ofNOK 100,000 ; and o North Bridge Management AS, a company closely associated with board memberDag Espen Arnesen , has been allocated 400,000Offer Shares at the Offer Price, corresponding to a total subscription amount ofNOK 100,000 . Please see the attached notifications forms for further information. This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act section 5-12. For further information, please contact: Egil Melkevik, Chairman Tel: +47 90 77 09 76 E-mail: em@ms-solutions.no AboutBlack Sea Property AS :Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast calledSunrise 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 finalizeSunrise River Beach Resort , to realize the project's added value through the sale of residential units and hotel operations.
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