The Board of Directors of Black Sea Property AS announced that Egil Melkevik has entered into an employment agreement with the Company for the position as CEO. The position is a part-time position, equivalent to 25% of a full-time position. Egil Melkevik has recently held the same position through a consultancy agreement, but the parties have now decided to formalize the relationship through an employment agreement. Melkevik has been a board member of the Company since 2015, and has been the board`s chairman since 2016. Melkevik will retain his role as the chairman of the Company`s Board of Directors.