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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
September 17, 1997
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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)
7979 Ivanhoe Avenue, Suite 500
La Jolla, CA 92037
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(Address of Principal Executive Offices
Including Zip Code
619-551-2365
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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)
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Item 5. Other Events.
On September 17, 1997, SVI Holdings, Inc. ("SVI") announced that its wholly
owned Australian subsidiary, Divergent Technologies Pty Ltd ("Divergent"),
has concluded an agreement to install its software at a large Australian
retailer.
Divergent will supply a total software solution which will encompass all areas
of the business from Point of Sale through Warehousing and Head Office to the
retailer.
Divergent expects to generate between US$6 and US$7 million in revenues from
this project. This project is expected to have a significant effect on earnings
in both the fourth quarter of fiscal 97 and the first quarter of fiscal 98.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(C) Exhibits
99.1 Press Release dated September 17, 1997.
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: September 17, 1997 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.
Tel:(619) 551-2365 Tel: (212) 605-0113
SVI HOLDINGS ANNOUNCES
$6 TO $7 MILLION IMPLEMENTATION
La Jolla, California **** September 17, 1997 **** SVI Holdings, Inc.
(OTC/BB:SVIH) today announced that its wholly owned Australian subsidiary,
Divergent Technologies Pty Ltd ("Divergent"), has concluded an agreement to
install its software at a large Australian retailer.
Divergent will supply a total software solution which will encompass all areas
of the business from Point of Sale through Warehousing and Head Office to the
retailer.
Divergent expects to generate between US$6 and US$7 million in revenues from
this project.
SVI is a rapidly expanding holding company which acquires and develops companies
in the information technology industry. It currently has two wholly owned
subsidiaries, SVI Training, a US based company which develops and markets
instructor-led training courseware for computer software programs and Divergent
Technologies which is an Australia based Company which designs, develops, and
markets leading business solutions for all levels of retail establishments for
the local amd international marketplace. SVI also has a substantial investment
in a South African company Softline, which develops and distribute computer
software, provides training, and distributes computer and related products in
the South African market.
Safe Harbor statement under the Private Securities Reform Act of 1995. When used
in this release, the words "should", "anticipate", "believe", "expect", and
similar expressions are intended to identify forward looking statements. Such
statements are subject to certain risks and uncertainties, including
fluctuations in currency exchange rates and the level of demand for computer
hardware and software in South Africa and Australia that could cause actual
results to differ materially from any forward looking statements.
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