Black Sea Property AS: New share capital registered

27 Oct 2025 13:05 CET

Reference is made to the stock exchange announcement on 9 September 2025 from
Black Sea Property AS ("Black Sea Property"), regarding the resolution by the
general meeting in the Company to carry out an rights issue to raise gross
proceeds of up to NOK 10,000,000 through issuance of up to 200,000,000 new
shares (the "Offer Shares") at a subscription price of NOK 0.05 per Offer Share.
Refrence is further made to the stock exchange announcement on 15 October 2025
regarding the results of the rights issue.

The share capital increase relating to the issuance of Offer Shares has now been
registered with the Norwegian Register of Business Enterprises. The share
capital has been increased with NOK 10,000,000 through the issuance of
200,000,000 Offer Shares. The new share capital of the Company is NOK 23,091,880
divided by 461,837,600 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.

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