Louis Lines Seeks Stock Split OK

Cyprus cruise line Louis will seek shareholders' approval for a 5:2 stock split and a new share issue to finance its recent acquisition of a Greek shipping line. Louis will apparently seek approval of a motion at the December 6 meeting for the issue of 5,426,660 new shares with a nominal value of 10 cents, which would be granted to shareholders in Royal Olympic Cruise Lines. It signed a deal with the Greek cruise line last month to take over 51.4 percent of the company. The move brings some 16 leisure vessels under its control.