Black Sea Property PLC Signed an Agreement

  • Dec 29, 2019 GMT
  • Team Kalkine
 
  • Black Sea Property PLC, the Bulgarian real estate investment company, announces that its subsidiary BSPF Project 1 EAD, has signed a settlement contract for the cancellation of the sale of 23 plots of land in Plots of Land (Byala). Byala is located near Varna on the Black Sea Coast.
  • Further, the group will pay the purchaser EUR 1,146,916 plus VAT, for the return of the initial consideration and to cover expenses and improvements related to the Plots of Land.
  • There will be a material positive adjustment in the group's accounts to reflect the current market value of the Plots of Land.

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