Louis plc considers group restructuring, requests trading suspension
Louis plc, a group active in cruises, hospitality, and travel services, on Tuesday announced that it is exploring a possible reorganisation of its structure as part of ongoing efforts by its board to enhance shareholder value.
According to the announcement, the company is “working with its advisers on a restructuring plan that, if decided and feasible to implement, is expected to benefit stakeholders, including minority shareholders”.
The company explained that any such restructuring will follow legal procedures under the supervision of the courts and, where required, other competent authorities.
“This approach aims to ensure fair and reasonable protection of the rights of all parties involved, especially minority shareholders,” the announcement stated.
“Despite the company’s best efforts to maintain confidentiality around internal operations and processes, there may have been a leak of confidential information concerning the potential restructuring,” it added.
In this context, Louis plc said that “due to this leak, the company’s share price on the Cyprus Stock Exchange (CSE) might be materially affected“.
Therefore, in line with compliance with CSE regulations and as a sign of its responsible conduct, the company has requested a suspension of trading of its listed shares.
The company has informed shareholders and the investing public accordingly to ensure accurate and timely communication.
“Should a decision be made to proceed with the restructuring, shareholders and the public will be kept informed promptly and as appropriate, in accordance with applicable laws and the company’s obligations as a listed entity on the CSE,” the company concluded.