SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): April 28, 2005
Island Pacific, Inc.
(formerly known as SVI Solutions, Inc.)
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-23049 33-0896617
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(Commission File Number) (IRS Employer Identification No.)
19800 MacArthur Boulevard, Suite 1200, Irvine, California 92612
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(Address of Principal Executive Offices) (Zip Code)
(949) 476-2212
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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)
ITEM 8.01 OTHER ITEMS
On April 28, 2005, Island Pacific, Inc. (the "Company") issued a press release
announcing a strategic plan to integrate its product lines and unify its
processes and operations. The plan includes a reduction of the Company's
workforce by approximately 14% percent or 30 employees worldwide, which will
result in approximately $2.7 million in annual savings, as well as consolidating
the Company's accounting and finance team into its Irvine headquarters. The
press release is attached hereto as Exhibit 99.1.
EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release dated April 28, 2005.
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 hereto duly authorized.
Island Pacific, Inc.
Date: May 2, 2005 By: /s/ Corinne Bertrand
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Name: Corinne Bertrand
Title: Chief Financial Officer