Reference is made to the stock exchange announcement by Black Sea Property AS
(the "Company") on 5 November 2023 regarding the results of a subsequent
offering of up to 9,000,000 new shares in the Company (the "Subsequent Offering"
and the "Offer Shares"). Following the expiry of the subscription period in the
Subsequent Offering, the Board of Directors resolved to allocate a total of
2,798,040 Offer Shares and to increase the Company's share capital with NOK
699,510 through the issuance of 2,798,040 Offer Shares, each with a par value of
NOK 0.25.

The share capital increase relating to the Subsequent Offering has now been
registered with the Norwegian Register of Business Enterprises. The Company's
new registered share capital is NOK 25,274,823.50 divided into 101,099,294
shares, each with a par value of NOK 0.25. 

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.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange