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Trading in St James halted ahead of EGM

Friday, October 10, 2014 - 10:39

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TRADING in the shares of St James Holdings was halted on Friday morning, ahead of a shareholder vote on the nightlife entertainment group's proposed transformation into a real estate developer. - PHOTO: BLOOMBERG

TRADING in the shares of St James Holdings was halted on Friday morning, ahead of a shareholder vote on the nightlife entertainment group's proposed transformation into a real estate developer.

The group intends for St James to be renamed Perennial Real Estate Holdings, and for its listing status to be transferred from Catalist to the SGX mainboard. The enlarged group will have assets in China, Singapore, and emerging markets.

St James said in an SGX announcement that its board recommends shareholders to vote in favour of the proposed transactions.

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