General Donlee Canada Inc. Announces Redemption of 7.00% Convertible Unsecured Subordinated Debentures

TORONTO, Oct. 8, 2013 /CNW/ - General Donlee Canada Inc. (TSX: GDI.DB; "General Donlee") today announced that, pursuant to the indenture (the "Indenture") governing General Donlee's 7.00% convertible unsecured subordinated debentures due June 30, 2014 (the "Debentures"), General Donlee has exercised its right to redeem, on November 12, 2013 (the "Redemption Date"), all of the outstanding Convertible Debentures that are not tendered to the previously announced change of control offer for an amount equal to the principal amount outstanding plus accrued and unpaid interest (less any tax required to be withheld) (the "Redemption Price").  Registered holders of Debentures ("Debentureholders") were sent notice on October 7, 2013 of the change of control of General Donlee, completed on October 4, 2013, which informed Debentureholders of their right to require General Donlee to purchase all or any part of such Debentureholder's Debentures pursuant to a put right in the Indenture ("Put Right"), at a cash price equal to 101% of the principal amount plus accrued and unpaid interest to but excluding the put date of November 11, 2013.  In the event a Debentureholder does not exercise the Put Right by the final exercise time of 5:00 p.m. (Toronto time) on November 4, 2013, General Donlee will redeem all outstanding Debentures at a cash price equal to 100% of the principal amount plus accrued and unpaid interest to but excluding the redemption date of November 12, 2013.

Following completion of the redemption on the Redemption Date, holders of Convertible Debentures will have no further rights or entitlements under the Convertible Debentures or the Indenture other than to receive the Redemption Price.

Any questions regarding the redemption should be directed to your broker, if applicable, or the trustee, Computershare Trust Company of Canada, at its North American toll-free number: 1-800-564-6253.

About General Donlee

General Donlee, a wholly owned subsidiary of Triumph Group, Inc. (NYSE:TGI), is a leading diversified manufacturer of precision-machined products serving the commercial, military, and general aerospace industries as well as the nuclear, power generation, oil & gas and capital equipment end markets. General Donlee's operating strategy focuses on targeting niche markets for products that are aligned with its sophisticated manufacturing capabilities and skilled workforce. Further information can be found in the disclosure documents filed by General Donlee with the securities regulatory authorities, available at www.sedar.com or through the Company's website at www.generaldonlee.com.

SOURCE: General Donlee Canada Inc.

Garen Mikirditsian
President
Telephone: [phone]

Robert S. Kheir, MBA, CMA
Vice President & Controller
Telephone: [phone]