Black Sea Property AS

BLACK SEA PROPERTY AS - MANDATORY NOTIFICATION OF TRADE

Erik Sture Larre, board member and primary insider,

has on 27 December 2016 sold 1,442,500 shares in Black

Sea Property AS ("BSP"), through wholly owned company

E. Larre Holding AS, to the company CL-Holding AS

(previously named Aheloy Beach Commercial AS) at a

price of NOK 1.50 per share.

The sale was made in connection with a restructuring

of Larre's ownership in BSP where the number of shares

mentioned above was moved to CL-Holding AS.

Simultaneously with the sale, Erik Sture Larre has

purchased 50% of the shares in CL-Holding AS.

Following this, CL-Holding AS is jointly owned with

50% each by Erik Sture Larre and Hans F. Gulseth (both

board members in BSP and primary insiders).

Following this transaction, Erik Sture Larre (through

the companies E. Larre Holding AS and CL-Holding AS)

owns 4 211 879 shares, corresponding to approximately

14,04% of the total outstanding number of shares. The

transaction does not imply any change of total

ownership for neither Erik Sture Larre nor Hans F.

Gulseth.

This information is subject of the disclosure

requirements pursuant to the Continuing Obligations

for companies admitted to trading at Merkur Market

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