Reference is made to the stock exchange notice dated 24 June 2024, where it was
announced that the general meeting of Black Sea Property AS (the "Company" or
"BSP") had approved, inter alia, an issuance of 8,000,000 warrants to the
members of the Company's Board of Directors. The grant of the Warrants were
subject to completion of the share capital decrease approved by the general
meeting held on 24 June 2024. The creditor notification period for such share
capital decrease has now expired, and the share capital decrease will shortly be
submitted for registration. It has therefore been considered appropriate to
notify the grant of warrants at this time.
The warrants are granted free of charge. Each warrant gives the holder the right
to require issuance of one (1) new share in the Company at a subscription price
of NOK 0.12 per share.
The following primary insiders of the Company have been granted warrants:
o Chairman Egil Melkevik has been granted 2,000,000 warrants