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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 20, 1996
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Date of Report (date of earliest event reported)
SVI HOLDINGS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 33-36125-D 84-1131608
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification Number)
Incorporation)
9364 Cabot Drive, Suite A-B
San Diego, California 92126
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(Address of Principal Executive Offices
Including Zip Code
619-693-4344
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(Registrant's Telephone Number,
Including Area Code)
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(Former Name or Former Address if Changed
Since Last Report)
Page 1 of 3 pages.
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Item 5. Other Events.
On December 20, 1996, SVI Holdings, Inc. (the "Company") announced
that it has entered into a partial settlement regarding the preliminary
injunction it obtained against certain companies and individuals in order to
prevent the transfer of two million shares of its common stock that were
pledged by the majority stockholder of SVI to secure a loan which was never
funded and whose proceeds were to go to SVI. The preliminary injunction was
issued by the federal district court on November 26, 1996.
The partial settelement is with a purchaser that purports to rightfully hold
one million shares of the stock that is subject to the preliminary
injunction. In consideration for the purchasers waiver of any rights to
500,000 shares of the SVI stock the purchaser claims and an agreement not to
take any action to interfere with the preliminary injunction, an unafilliated
third party agreed to loan 95,000 shares to a broker-dealer so that the
purchaser may meet certain commitments to other buyers in the market. In
addition, SVI's majority stockholder has agreed to waive any rights to profits
made by the purchaser in the sale of the 95,000 shares.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(C) Exhibits
99.1 Press Release dated December 20, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 31, 1996 SVI Holdings, Inc.
By: /s/ Russell Schechter
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Russell Schechter
Vice President
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE CONTACT Barry Schechter Donald Radcliffe
President Radcliffe & Associates, Inc.
San Diego, California **** December 11, 1996 **** SVI Holdings, Inc.
(OTC/BB:SVIH) today announced that it has entered into a partial settlement
regarding the preliminary injunction it obtained against certain companies
and individuals in order to prevent the transfer of two million shares of its
common stock that were pledged by the majority stockholder of SVI to secure a
loan which was never funded and whose proceeds were to go to SVI. The
preliminary injunction was issued by the federal district court on November
26, 1996.
The partial settelement is with a purchaser that purports to rightfully hold
one million shares of the stock that is subject to the preliminary
injunction. In consideration for the purchasers waiver of any rights to
500,000 shares of the SVI stock the purchaser claims and an agreement not to
take any action to interfere with the preliminary injunction, an unafilliated
third party agreed to loan 95,000 shares to a broker-dealer so that the
purchaser may meet certain commitments to other buyers in the market. In
addition, SVI's majority stockholder has agreed to waive any rights to
profits made by the purchaser in the sale of the 95,000 shares.
Barry Schechter, Chief Executive of SVI said "We are continuing our efforts
to resolve this situation and to preserve an orderly trading market for SVI's
stock while we are pursuing our legal remedies. We are working diligently to
seek return of these shares and to be compensated for our damages."
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