Dimension Data Holdings subsidiary will convert $100 million in bonds to common stock

By Sheri Kasprzak

New York, April 19 - R&V Technology Holdings Ltd., a subsidiary of Dimension Data Holdings plc, said it plans to convert its outstanding $100 million in convertible bonds into common stock.

The bonds will convert into 188,121,978 common shares.

Under the terms of the bonds, R&V had the right to redeem the bonds if Dimension Data's share price met certain conditions. Those conditions were met, and R&V elected to convert the bonds instead, according to a statement released Wednesday morning.

Dimension Data, located in London, is an internet technology services provider focused on helping clients build IT infrastructure.

R&V is a holding company for Business Ventures Investments 951 Ltd.

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