Member Info for bbr391

One hopes Christmas 2023 , not 2024

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Soon be Christmas

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Still assuming Christmas will be Our happy place.

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Back up towards 3 Zt . Thence back to 2Zt .

The disappearance of Elbit from the shareholders list should coincide with Our Phoenix like return to Market in London .

March/April 20204

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1.45 to sell.

Good news ahoy

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Maybe this uptick is for real

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Back up towards 3 Zt .

Will these shares ever return to Market ?

Maybe

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Maybe .

Debt Facilities Update .

Trading should begin when the transaction has completed.

Just in time for Christmas 2023 ,seems most likely.

Best of Luck All

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Shareholders

Holders up to 7.4p

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Be Interesting to see what the New Co is worth , when on the Swedish Exchange .

Illumination comes very slowly with this BOD

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Chairman's Statement

As at 30 June 2023 the significant shareholders of Black Sea Property Plc ("the Company") were as follows:

Beneficial shareholder

Holding

Percentage

Neo London Capital Plc

515,126,806

28.41%

Compass Capital JSC

304,354,182

16.78%

Mamferay Holdings Limited

449,957,562

24.81%

Capman AM

92,000,000

5.07%

Interfund Investments Plc

89,500,000

4.94%

The shareholder structure as at 31 December 2022 is the following:

Beneficial shareholder

Holding

Percentage

Neo London Capital Plc

515,126,806

28.41%

Compass Capital JSC

304,354,182

16.78%

Mamferay Holdings Limited

449,957,562

24.81%

Capman AM

92,000,000

5.07%

Interfund Investments Plc

89,500,000

4.94%

Chairman's statement

I am pleased to present the unaudited interim financial statements of the Company for the six months ended 30 June 2023.

The unaudited net asset value as at 30 June 2023 was €28.7 million or 1.58 cents per share (31 December 2022: €28.8 million or 1.59 cents per share).

During the period, the Company generated revenues of €264,835 (June 2022: €152,646) which resulted in a loss before taxation of €74,412 (June 2022: €553,150). The results reflected other income of €678,836 (June 2022: €106,798), property operating expenses of €283,729 (June 2022: €132,856), other operating expenses of €328,293 (June 2022: €458,473) and interest payable and other charges of €406,061 (June 2022: €215,287). Loss per share amounted to €0.01 cents (June 2022: €0.03 cents).

Camping South Beach EOOD ("CSB")

The summer season in 2023 marked a positive development, despite the challenging environment arising from the military conflict in Ukraine. Camping South Beach preserved its prime position as a destination for luxury camping holidays and beach houses. Following the trend from the previous seasons most of the guests were Bulgarian citizens, as well as tourists from the EU.

Camping South Beach achieved occupancy levels of around 58% in July and 51% in August 2023. On yearly basis the occupancy increase is approx. 5 %, compared to 2022.

Despite the slight increase in occupancy, they still remain below the targeted levels, based on the overall economic uncertainty arising from the war in Ukraine.

In 2023, the third active season under the Concession Agreement ("Agreement") for the beach in front of CSB, has provided additional value to the property and has enabled synergy with the campsite. The term of the Concession Agreement is 20 years, and all requirements and obligations specified in the Agreement have been fulfilled.

The long-term strategy of CSB is to develop the whole Gradina area including the newly acquired adjacent real estate and Black Sea Star hotel into an exclusive summer resort meeting the highest standards.

Ivan Vazov 1 Building

D

Sometimes these bunnies take a few years to reassemble .

One hopes 2024 will see the Team back on the Block

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Thanks CJ

I personally this is a great uptick for Craven .

As you mention Amigo was huge in comparison .

Hopefully that means the residue of Amigo has a bit of value to be extracted .

Time One supposes will tell All .

Best of

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Result

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Property developer Plaza Centers is seeking €262.2 million in damages from the Romanian state, alleging that it recorded massive losses from the Casa Radio project in Bucharest. The company filed a complaint with the International Centre for Settlement of Investment Disputes (ICSID) in Washington.

The developer planned a mixed-use scheme, and the Romanian state should have been a minority shareholder in the project. Plaza Centers said it allocated €85 million for this investment, but the construction works did not advance.

In the meantime, the developer clinched a deal with AFI Europe to sell its stake in the project for around €60 million. The transaction should be completed by the end of 2022, according to rhn.ro.

The land and abandoned buildings of Casa Radio were leased to Plaza Centers for 49 years, in view of redeveloping the area under a Public Private Partnership (PPP)

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Plaza Centers N.V. v. Romania, ICSID Case No. ARB/22/15

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The board believes that these results show an improvement in all-round performance aligned to a clearer business strategy. The Group is expecting further strong operational and financial performance in H2 2023, which we believe will help us achieve our targets for the current financial year.

Positivity is

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As expected

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Looking forward, our commitment entails continued vigilance in monitoring market trends, harnessing our expertise, and seeking appealing investment opportunities that align with our risk tolerance and long-term objectives. While we acknowledge the uncertainties and potential challenges within the property market, our optimism endures regarding the underlying strength and resilience of the sector over the long term.

Those hands must be welded to that Deluxe Chair by now

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