Black Sea Property's rights issue begins, seeks up to NOK 10m

Black Sea Property AS has announced that its shares are now trading exclusive of the right to participate in a rights issue. This capital raise aims to generate gross proceeds of up to NOK 10 million and follows the general meeting's approval of a share capital increase. The ex-date for the rights to participate is September 26, 2025.

Shareholders registered in the VPS as of the end of September 29, 2025, with a record date of September 25, 2025, will be granted subscription rights. The capital infusion will support Black Sea Property AS, a real estate company focused on the Sunrise River Beach Resort project on the Black Sea coast. This partially completed project is slated to comprise approximately 950 apartments and significant commercial space upon finalization.

Black Sea Property AS holds indirect ownership in the resort and aims to complete the project, realizing added value through the sale of residential units and hotel operations. For further information, investors can contact chairman Egil Melkevik.