Reference is made to the stock exchange notice by Black Sea Property AS ("BSP"
or the "Company") on 4 October 2024, regarding the final result of the rights
issue of between 107,382,966 to 150,000,000 new shares in the Company, (the
"Rights Issue"), of which an underwriting consortium (jointly the
"Underwriters") agreed to underwrite subscription of new shares for gross
proceeds of NOK 12,885,956. Pursuant to the underwriting agreement for the
Rights Issue (the "Underwriting Agreement"), the Underwriters are entitled to an
underwriting commission, which shall be settled in newly issued shares in the
Company at the same subscription price as the shares in the Rights Issue, NOK
0.12 per share (the "Fee Shares"). 

Reference is further made to the to the stock exchange notice by BSP on 12
November 2024 regarding the Company's board of directors' resolution to increase
the share capital with NOK 536,914.65, through issuance of 10,738,293 Fee
Shares. The Fee Shares have now been formally subscribed.  

The following close associates to primary insiders have subscribed for Fee
Shares in the Rights Issue:

-	MTB Invest AS, a close associate of Egil Melkevik, the chairman of the board
of the Company, has  subscribed for 2,792,974 Fee Shares in the Rights Issue: 
-	North Bridge Management AS, a close associate of Dag Espen Arnesen, a board
member in the Company, has subscribed for 18,353,831 Fee Shares in the Rights
Issue