SINGAPORE : Shareholders of JK Technology have approved a reverse takeover by St James Holdings, the operator of the St James Power Station nightspot.

The move will pave the way for St James to be listed on the Catalist board.

Shareholders also gave the go-ahead for a new board of directors, which includes former Speaker of Parliament Tan Soo Khoon as non-executive chairman.

Other board members include singer-songwriter Dick Lee and Nash Benjamin, CEO of fashion retailer F J Benjamin.

When the deal is completed on August 6, JK Tech will be renamed St James Holdings.

The reverse takeover valued at S$108 million was announced last September.

PrimePartners Corporate Finance will be the sponsor for the Catalist listing. - CNA/ms