Reference is made to the stock exchange notice byBlack Sea Property AS (the "Company") on30 June 2021 and the general meeting's decision from the same day regarding approval of a merger plan between the Company and Bulgaria Eiendom Invest AS (the "Merger"), as well as share capital increases pertaining to (i) issuance of 6,903,277 consideration shares to be delivered to the shareholders of Bulgaria Eiendom Invest AS upon completion of the Merger, and (ii) a subsequent repair offering (the "Subsequent Offering"). The Company is pleased to inform that the Merger with Bulgaria Eiendom Invest AS has now been completed, with the effect that Bulgaria Eiendom Invest AS has been merged into the Company. Furthermore the share capital has been increased in connection with the Merger withNOK 1,725,819.25 through issuance of 6,903,277 new shares, each with a par value ofNOK 0.25 , issued at a subscription price ofNOK 3.00 . As announced on19 July 2021 , at the end of the subscription period for the Subsequent Offering, the Company had received subscriptions for a total ofNOK 1,455,489 through the issuance of 485,163 new shares, each with a subscription rate ofNOK 3.00 . The share capital increases pertaining to the Merger and the Subsequent Offering has now been registered with theNorwegian Register ofBusiness Enterprises , and the new share capital in the Company is thusNOK 9,331,037 divided into 31,987,355 shares, each with a par value ofNOK 0.25 . For further information, please contact: Egil Melkevik, Chairman Tel: +47 90 77 09 76 E-mail: em@em-solutions.no AboutBlack Sea Property AS :Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast calledSunrise Gardens .Sunrise Gardens Resort is partially completed and will upon completion comprise approximately 950 apartments as well as significant commercial space.Black Sea Property AS owns indirectly 75 % of the project.Black Sea Property AS will work to finalizeSunrise Gardens Resort , to realize the project's added value through the sale of residential units and hotel operations.
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