News Press releases

Final settlement for acquisition of assets in Klaipeda, Lithuania

Dec 15 2021

Oslo, 15th of December 2021 – Baltic Sea Properties AS (“BALT” or “the Company”,
and together with the Company’s subsidiaries, “BSP”) refers to Oslo Stock
Exchange release and information on the 26th of April 2021, regarding the
acquisition of a 24,000 square metre industrial park, a management company, and
development land, all located in Lithuania’s third largest city, Klaipėda.

In accordance with the agreed terms of the transaction, BSP now has paid the
final instalment (MEUR 2.3 + accumulated interest MEUR 0.07) of the acquisition
price to Baltic Equity Group UAB.

The Company’s interim reports for Q2 and Q3 2021, published on the 27th of
August and 18th of November respectively, included provisions for the liability
in their balance sheets and net asset value (NAV).

The main shareholder in Baltic Equity Group UAB is the current chairman of BSP,
James Andrew Clarke. The pricing of the acquired properties was done according
to arm’s length principle, with price based on valuations from two independent
and reputable valuators.

For more information, please contact:
Lars Christian Berger
phone: +47 930 94 319