Reference is made to the stock exchange notice by Black Sea Property AS ("BSP"
or the "Company") on 2 October 2023 regarding the successful placing of a
conditional private placement raising gross proceeds of NOK 5,822,237 (the
"Private Placement") and a contemplated subsequent offering (the "Subsequent
Offering"). Reference is furthermore made to the decision by the general meeting
of the Company on 17 October 2023 that resolved to complete the Private
Placement and to carry out the Subsequent Offering of new shares in the Company.
The Subsequent Offering consists of an offering of minimum 1 and maximum
9,000,000 new shares in the Company (the "Offer Shares"), directed towards to
the Company's shareholders as of 2 October 2023 (as registered in the VPS on 4
October 2023, (the "Record Date")), except