Black Sea Property AS

Director's Dealing • Mar 17, 2017

BLACK SEA PROPERTY AS: SUBSCRIPTIONS FROM BOARD MEMBERS IN RIGHTS ISSUE - MANDATORY NOTIFICATION OF TRADE

BLACK SEA PROPERTY AS: SUBSCRIPTIONS FROM BOARD MEMBERS IN RIGHTS ISSUE - MANDATORY NOTIFICATION OF TRADE

On 16 March 2017, the board members and primary insiders of

Black Sea Property AS (the "Company") has subscribed for a

total of 13,634,390 new shares in the rights issue resolved

on 8 March 2017 (the "Rights Issue"), of which 3,150,353 new

shares are subscribed for through over-subscription. The

subscriptions are made at the subscription price in the

Rights Issue, being NOK 0.70 per share.

Please find enclosed an overview of the subscriptions made

by the board members or companies controlled by them and

their maximum holdings of shares in the Company following

completion of the Rights Issue.

The maximum number of shares held by the primary insiders

above will be subject to change following the board of

director's allocation of new shares in the Rights Issue. An

updated overview of the holdings of the primary insiders

listed above will be published in due time.

This information is subject of the disclosure requirements

pursuant to the Continuing Obligations

for companies admitted to trading at Merkur Market