Black Sea Property AS has today completed its annual general meeting for 2021.
The general meeting approved, inter alia, a merger plan for a merger between
Black Sea Property AS and Bulgaria Eiendom Invest AS, as well as share capital
increases pertaining to the private placement announced on 30 May 2021 and to a
subsequent repair offering. The subscription period in the subsequent repair
offering commence tomorrow, 1 July 2021, and further information will be given
prior to the start of the subscription period.

All resolutions were passed in accordance with the proposals set out in the
notice for the annual general meeting. The minutes of the general meeting is
attached hereto.

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 Gardens. Sunrise Gardens Resort is a partially completed
project 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 finalize Sunrise Gardens Resort,
to realize the project's added value through the sale of residential units and
hotel operations.

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