Black Sea Property AS

Share Issue/Capital Change • Mar 17, 2017

Name	No. of subscribed shares	No. of over subscribed shares	Maximum number of shares following Rights Issue
Egil Melkevik, chairman	428,572	216,082	626,902
Total Management AS (a company controlled by director Nils Tore Nilsen)	3,142,857	0	6,088,217
CL-Holding AS (a company controlled by directors Erik Larre and Hans Gulseth)	3,700,000	609,014	6,585,000
E. Larre Holding AS (a company controlled by director Erik Larre)	4,285,714	1,318,602	7,055,093
Espemo Invest AS (a company controlled by director Morten Westergren)	1,071,429	167,382	1,915,229
MW Earth Holding AS (a company controlled by director Morten Westergren)	77,247	0	149,347
Rødningen Invest AS (a company controlled by director Kåre Rødningen)	928,571	852,074	999,971