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SECURITIES AND EXCHANGE COMMISSION COMMISSION FILE NUMBER
Washington, D.C. 20549 0-27494
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FORM 12b-25 CUSIP NUMBER
G34874100
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NOTIFICATION OF LATE FILING
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(Check One): |X| Form 10-K |_| Form 20-F |_| Form 11-K |_| Form 10-Q |_| Form N-SAR
For Period Ended: June 30, 2001
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: ___________________________________________________________________________________________
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Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information
contained herein.
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If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
Silverstar Holdings, Ltd.
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Full Name of Registrant
Leisureplante Holdings, Ltd.
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Former Name if Applicable
Clarendon House, Church Street
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Address of Principal Executive Office (Street and Number)
Hamilton HM CX, Bermuda
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City, State and Zip Code
PART II -- RULE 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule
12b-25(b), the following should be completed. (Check appropriate box.)
(a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable
effort or expense;
|x| (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR,
or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion thereof will be filed on or before the fifth
calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
PART III -- NARRATIVE
State below in reasonable detail why the Form 10-K, 11-K, 20-F 10-Q, N-SAR, or the transition report or portion thereof, could not
be filed within the prescribed time period.
SEE ATTACHMENT A
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
Clive Kabatznik 561 479-0040
____________________________________________ _______________________________ _________________________________________________
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of
1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such report(s) been filed? If the answer
is no, identify report(s). |X| Yes | | No
(3) Is it anticipated that any significant change in results of operations from the corresponding period
for the last fiscal year will be reflected by the earnings statements to be included in the subject
report or portion thereof? |X| Yes | | No
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
SEE ATTACHMENT B
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Leisureplante Holdings. Ltd.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date September 28, 2001 By /s/ Clive Kabatznik
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Clive Kabatznik, President, Vice Chairman, Chief
Executive Officer, Chief Financial Officer, Director
and Controller
ATTACHMENT A
PART III - NARRATIVE
The Registrant's Annual Report on Form 10-KSB for the year ended June 30, 2001
could not be filed within the prescribed time period because the Registrant has
not finalized all of its accounting matters in connection with its South African
operating subsidiary. As a result, the financial statements of the Registrant
for the fiscal year ended June 30, 2001 and the notes thereto, have not yet been
completed.
ATTACHMENT B
PART IV - OTHER INFORMATION
The Registrant anticipates reporting that the results of operations for the
fiscal year ended June 30, 2001 have substantially changed as compared with the
results of operations for the fiscal year ended June 30, 2000. The Company has
disposed its South African operating subsidiaries which are being classified as
discontinued operations, and closed its internet travel services company. As a
result, revenue for the year ended June 30, 2001 is anticipated to be $1.1
million and net loss for the fiscal year ended June 30, 2001 is anticipated to
be approximately $5 million.