Black Sea Property PLC Acquisition extension (7555R)

TIDMBSP

RNS Number : 7555R

Black Sea Property PLC

30 October 2023

BLACK SEA PROPERTY PLC

("Black Sea Property" or the "Company")

Black Sea Property PLC, the Bulgarian real estate investment company, is pleased to announce that it has agreed an extension to the deadline for payment of the balance of the consideration due for the acquisition of 98.27% of the Grand Hotel Varna AD (the "Acquisition"), previously announced on 21 July 2023. The outstanding balance of the consideration, amounting to approximately EUR16 million, is now due for payment on 6 November 2023.

The Grand Hotel Varna AD owns GHV-Dolphins EAD, a Bulgarian company holding the title to real estate comprising of three hotels and a beach marina resort situated in a prime location on the Black Sea Coast.

   For further information, please visit  www.blackseapropertyplc.com   or contact the following: 
 
 BLACK SEA PROPERTY PLC 
  Simon Hudd - Chairman            +44 (0) 7568 605330 
 PETERHOUSE CAPITAL LIMITED 
  Aquis Corporate Adviser 
  Heena Karani and Duncan Vasey    +44 (0) 207 469 0930

Market Abuse Regulation (MAR) Disclosure

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October 30, 2023 12:14 ET (16:14 GMT)

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