Louis PLC

Capital/Financing Update • Mar 11, 2016

LOUIS

ANNOUNCEMENT

Louis plc – Completion of the restructuring of the borrowings of Celestyal Cruises Ltd with DVB Bank and the Bank of Cyprus

Nicosia, 11 March 2016

Louis plc announces that the procedure relating to the restructuring of the borrowings of its subsidiary, Celestyal Cruises Ltd (former Louis Cruises Ltd), with DVB Bank and the Bank of Cyprus, was completed today. In addition to the restructuring plan with DVB Bank, which was analysed and explained at the extraordinary General Meeting of the shareholders held on 17 December 2015, Celestyal Cruises has also completed the restructuring of its borrowings with the Bank of Cyprus regarding additional loan obligations of approximately €19.0 million.

It is reminded that in the context of the restructuring of its borrowings with DVB Bank, the Bank acquired today 49% of the share capital of Celestyal Cruises Ltd, through the conversion of loans of approximately €33.9 million to share capital.

The remaining key elements of the restructuring of the borrowings of Celestyal Cruises Ltd with DVB Bank are set out in the relevant summary to the shareholders posted on the Company's website and explained to the shareholders at the extraordinary General Meeting of 17 December 2015.