Louis plc seeks court approval for restructuring to move Nausicaa Beach hotel into new listed firm

Nicosia, Cyprus. Louis plc has applied to the Nicosia District Court for permission to hold shareholder meetings on a restructuring that would put the Louis Nausicaa Beach hotel under a new listed company, Nausicaa Hotels Plc. Under the plan, Louis plc would leave the Cyprus Stock Exchange (CSE) and become a private company.

Background to the application

The company announced the application on Tuesday. It said the move follows earlier announcements made on December 11 and December 15, 2025, about a restructuring plan that would reorganise the group and separate the hotel investment from the currently listed company.

Under the proposal, ultimate ownership of the hotel would pass to the minority shareholders of Louis plc and Louis Hotels Public Company Ltd, who would give up their shares in those two companies in exchange. The company stated that the scheme is meant to guarantee equal treatment of minority shareholders and may benefit stakeholders. Implementation still depends on court approval, shareholder votes and other conditions.

Current ownership structure

At present, the hotel is legally held by Nausicaa Estates Ltd, which is entirely controlled by Louis Hotels. Louis plc owns roughly 99.876 per cent of Louis Hotels, and minority shareholders hold a further 0.124 per cent.

Clin Company Limited is the majority shareholder of Louis plc with 66.968 per cent. Minority shareholders account for the other 33.03 per cent.

Proposed structure

After the restructuring, Nausicaa Hotels Plc would own the hotel indirectly through Nausicaa Investments Ltd and Nausicaa Estates Ltd. It would be listed on the main market of the Cyprus Stock Exchange.

Clin Company Limited would become the only shareholder of Louis plc, which would then be delisted and turned into a private company. Minority shareholders would hold shares in Nausicaa Hotels Plc instead.

Valuation

According to the company, an independent valuation set the value of the hotel at €43.47 million, including its movable equipment but excluding loans. The assessment used the Fair Maintainable Profit capitalisation method. It was commissioned in addition to a previous valuation carried out in 2025 for the financial statements of Nausicaa Estates and the group.