The Channel logo

News

By | Team Register 21st April 2006 11:10

Dimension Data share deal

R&V cash a big bond

R&V Technology Holdings Limited has cashed in chips worth 12.3 per cent of Dimension Data.

It had bonds worth $100m that on conversion, according to one report, gave R&V the largest holding of all DiData shareholders at 18.2 per cent.

DiData was unavailable for comment. In a statement to the City, DiData merely gave the 12.2 per cent value of the converted shares and said:

"In terms of the agreements governing the convertible bonds, Dimension Data had the right to redeem the bonds under certain share price conditions. Given Dimension Data's share price performance, these conditions had been met, and R&V has elected to convert the bonds rather than accept redemption."

A loss-making 2004 is all but forgotten, with nearly $18m net profit in 2005. Revenues are growing in double figures and top $750m. ®

alert Send corrections

Opinion

Woman cuddles 'sly-looking' Fennec fox. Photo by Shutterstock
Cartoon of employee asking wky boss makes hium wear suspenders (while pincer through open trapdoor remains poised above his head) illustration by Cartoon resource for Shutterstock

Frank Jennings

It's not like my boss painstakingly nurtured the contacts, right?

Features

Girl and computer, photo via Shutterstock
Middle-class terror of engineering also part of problem
Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world