Black Sea Property details NOK 10m rights issue for resort completion

Black Sea Property AS has released key information regarding its preferential rights issue, aiming to raise gross proceeds of up to NOK 10 million. The terms and conditions were announced on September 12, 2025, with an ex-date of September 26, 2025, and a record date set for September 29, 2025. The company plans to issue a maximum of 200,000,000 new shares at a subscription price of NOK 0.05 per share.

Shareholders will be granted 0.7638 subscription rights for each existing share held as of the record date, with each right allowing the subscription for one new share. The rights themselves will not be listed on the stock exchange. The company, which owns indirect holdings in the Sunrise River Beach Resort project, intends to use the capital to finalize the resort, comprising approximately 950 apartments and significant commercial space.