Black Sea Property AS: Mandatory Notification of Trade

04 Oct 2024 14:15 CEST

Reference is made to the stock exchange notice by Black Sea Property AS ("BSP"
or the "Company") on 4 October 2024, regarding the final result of the rights
issue of between 107,382,966 to 150,000,000 new shares in the Company, at a
subscription price of NOK 0.12 per share (the "Offer Shares") to raise gross
proceeds of up to approximately NOK 18,000,000 (the "Rights Issue").

The following close associates to primary insiders have been allocated Offer
Shares in the Rights Issue:

- MTB Invest AS, a close associate of Egil Melkevik, the chairman of the board
of the Company, has been allocated 2,792,974 Offer Shares in the Rights Issue:
- North Bridge Management AS, a close associate of Dag Espen Arnesen, a board
member in the Company, has been allocated 18,353,831 Offer Shares in the Rights
Issue;
- DEA Holding AS, a close associate of Dag Espen Arnesen, a board member in the
Company, has been allocated 1,795,483 Offer Shares in the Rights Issue;
- Christinedal AS, a close associate of Hans Fredrik Gulseth, a board member in
the Company, has been allocated 15,959,853 Offer Shares in the Rights Issue;
- Rødningen Invest AS, a close associate of Kåre Rødningen, a board member in
the Company, has been allocated 1,396,487r Offer Shares in the Rights Issue.

Please refer to the attached notification forms for further information.

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation article 19.

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.

More information:
Access the news on Oslo Bors NewsWeb site

629063_Notification form Christinedal AS.pdf
629063_Notification form Rødningen Invest AS.pdf
629063_Notification form MTB Invest AS.pdf
629063_Notification form DEA Holding AS.pdf
629063_Notification form North Bridge Management AS.pdf