Reference is made to the stock exchange announcement by Black Sea Property AS
(the "Company") on 2 October 2023 regarding the successful placing of a private
placement raising gross proceeds of approximately NOK 5.8 million through
issuance of new shares ("Offer Shares") in the Company with a subscription price
of NOK 0.25 per Offer Shares (the "Offer Price").

The following persons discharging managerial responsibilities and their close
associates have been allocated Offer Shares in the Private Placement at the
Offer Price:

o	MTB Invest AS, a company controlled by chairman Egil Melkevik, has been
allocated 560,000 Offer Shares at the Offer Price, corresponding to a total
subscription amount of NOK 140,000;

o	Christinedal AS, a company controlled by board member Hans Gulseth, has been
allocated 2,200,000 Offer Shares at the Offer Price, corresponding to a total
subscription amount of NOK 550,000;

o	Rødningen Invest AS, a company controlled by board member Kåre Rødningen, has
been allocated 560,000 Offer Shares at the Offer Price, corresponding to a total
subscription amount of NOK 140,000;

o	DEA Holding AS, a company controlled by board member Dag Espen Arnesen, has
been allocated 400,000 Offer Shares at the Offer Price, corresponding to a total
subscription amount of NOK 100,000; and

o	North Bridge Management AS, a company closely associated with board member Dag
Espen Arnesen, has been allocated 400,000 Offer Shares at the Offer Price,
corresponding to a total subscription amount of NOK 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

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.

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© Oslo Bors ASA, source Oslo Stock Exchange