SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 4, 2006
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SILVERSTAR HOLDINGS, LTD.
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| (Exact Name of Registrant as Specified in Charter) |
| Bermuda | 0-27494 | N/A |
| (State or Other Jurisdiction | (Commission | (IRS Employer |
| of Incorporation) | File No.) | Identification No.) |
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Clarendon House, Church Street, Hamilton, HM CX, Bermuda
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| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (441) 295-1422
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Not Applicable
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| (Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 2.01. | | Completion of Acquisition or Disposition of Assets. |
On December 4, 2006, Silverstar Holdings Ltd. (the “Registrant”) announced that its wholly-owned UK subsidiary, Silverstar Acquisitions plc (“Silverstar Acquisitions”), had achieved over 90% acceptance of its offer to acquire the shares of Empire Interactive PLC (‘Empire”). As a result of over 90% of the shareholders of Empire accepting Silverstar Acquisition’s offer, the offer to the remaining shareholders of Empire will terminate on December 15, 2006. The offer provides for either a cash payment of approxmatiely 13 cents per share, or an earn-out alternative, where the initial payment will be approximately 9 cents per share, with a further 9.4 cents per share payable under certain conditions in October 2007
| Item 7.01 | | Regulation FD Disclosure. |
On December 4, 2006 the Registrant announced that the Silverstar Acquisitions had achieved over 90% acceptance of its offer to acquire the shares of Empire and the offer to the remaining shareholders of Empire will terminate on December 15, 2006. A copy of the Registrant’s press release is attached hereto as Exhibit 99.1.
| Item 9.01 | | Financial Statements and Exhibits. |
| | (a) | | Financial statements of businesses acquired. |
The financial statements of the acquired business will be filed within 71 days after the last date that this Report must be filed with the Securities and Exchange Commission.
| | (b) | | Pro forma financial information. |
The pro forma financial statements will be filed within 71 days after the last date that this Report must be filed with the Securities and Exchange Commission.
| | (c) | | Shell company transaction |
Not applicable
| | Exhibit Number | | Description |
| | 99.1 | | Press release of the Registrant dated December 4, 2006. |
SIGNATURES
Pursuant to the requirements of Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Date: December 8, 2006 | | SILVERSTAR HOLDINGS, LTD. | |
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| | | By: /s/ Clive Kabatznik | |
| | | Name: Clive Kabatznik | |
| | | Title: Chief Executive Officer | |
