Reference is made to the stock exchange announcement on 25 June 2025 from Black
Sea Property AS ("Black Sea Property" or the "Company"), regarding the
completion of the annual general meeting in the Company where it was inter alia
resolved to increase the share capital in the Company through issuance of 17 new
shares, each with a nominal value of NOK 0.05 (the "New Shares"), followed by
reverse share split in the ratio of 100:1. Pursuant to the resolution, the New
Shares were subscribed by MTB Invest AS.
The share capital increase relating to the issuance of the New Shares has now
been registered with the Norwegian Register of Business Enterprises. The share
capital has been increased with NOK 0.85 through the issuance of 17 New Shares.
The new share capital of the Company is NOK 13,091,880 divided by 261,837,600
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.