St James halts trading ahead of shareholders' meeting to vote on sale of business

Shares of St James Holdings, which has 13 bars and clubs in Singapore, including Peppermint Park and Mono, both in its sprawling St James Power Station venue (pictured), have been halted from trading ahead of a shareholder vote on the sale
Shares of St James Holdings, which has 13 bars and clubs in Singapore, including Peppermint Park and Mono, both in its sprawling St James Power Station venue (pictured), have been halted from trading ahead of a shareholder vote on the sale of its entertainment business. -- PHOTO: THE NEW PAPER FILE 

Shares of St James Holdings have been halted from trading ahead of a shareholder vote on the sale of its entertainment business.

The meeting will also ask shareholders to approve the injection of property assets such as shopping malls in China into St James by Perennial Real Estate Holdings.

The move will transform St James into a real estate developer that combines Perennial's assets in Singapore and China.

The St James' entertainment business will be divested to CityBar Holdings and taken private. Owner Dennis Foo is retiring.

St James has 13 bars and clubs in Singapore, including Peppermint Park and Mono, both in its sprawling St James Power Station venue and the mandopop club Shanghai Dolly at Clarke Quay.