Reference is made to previous stock exchange announcements from Black Sea
Property AS ("BSP" or the "Company") on 9 September 2025 regarding the rights
issue of up to 200,000,000 new shares (the "Offer Shares") at a subscription
price of NOK 0.05 per Offer Share (the "Subscription Price"), raising gross
proceeds of up to NOK 10,000,000 (the "Rights Issue").
The subscription period for the Rights Issue expired on 14 October 2025, at
16.30 hours (CEST). At the expiry of the subscription period in the Rights
Issue, the Company had received valid subscriptions for a total of 195,392,190
Offer Shares. Subsequently, one of the lenders under Shareholder Loan 1 (as
defined below) has been allocated the remaining 4,607,810 Offer Shares, thus
bringing the total number of subscribed Offer Shares up to the maximum of
200,000,000 Offer Shares.
The final allocation of the Offer Shares has now been completed based on the
allocation criteria set out in the invitation letter prepared by the Company in
connection with the Rights Issue, dated 30 September 2025 (the "Invitation
Letter").
The final allocation shows that:
- 138,662,894 Offer Shares have been allocated based on validly exercised
subscription rights during the subscription period