TORONTO, Sept. 30, 2013 /CNW/ - General Donlee Canada Inc. (TSX: GDI;
the "Company" or "General Donlee") announced that, at its special
meeting of shareholders held today (the "Meeting"), shareholders
approved the previously announced arrangement (the "Arrangement")
whereby a wholly-owned subsidiary of Triumph Group, Inc. ("Triumph")
will acquire all of the Company's common shares.
The Arrangement was approved by approximately 99.41% of the votes cast at the Meeting.
Completion of the Arrangement remains subject to certain conditions,
including final court approval. An application seeking a final order
approving the Arrangement has been scheduled to be heard at the Ontario
Superior Court of Justice at 330 University Avenue, Toronto, Ontario at
or around 10:00 a.m. on October 1, 2013. If the final order is granted
and all other conditions precedent to the Arrangement are satisfied or
waived, the Corporation expects that the Arrangement will be completed
on October 4, 2013.
Further information about the Arrangement is set out in the Company's
management information circular dated September 3, 2013 and the
supplemental management information circular dated September 18, 2013,
both of which are available on www.sedar.com.
About General Donlee
General Donlee 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.
About Triumph
Triumph Group, Inc. (NYSE:TGI), headquartered in Berwyn, Pennsylvania,
designs, engineers, manufactures, repairs and overhauls a broad
portfolio of aerostructures, aircraft components, accessories,
subassemblies and systems. The company serves a broad, worldwide
spectrum of the aviation industry, including original equipment
manufacturers of commercial, regional, business and military aircraft
and aircraft components, as well as commercial and regional airlines
and air cargo carriers.
Forward Looking Statements
This news release contains "forward-looking information" within the
meaning of Canadian securities laws. Statements containing
forward-looking information which may include, but are not limited to,
the Company's expectations with respect to the granting of the final
order and the completion of the Arrangement and the timing related
thereto and any other statements about the future expectations,
beliefs, goals, plans or prospects expressed by the management or the
board of directors of the Company. With respect to the forward-looking
information contained in this press release, the Company has made
assumptions regarding, among other things, the Company's receipt of all
necessary approvals to proceed with the completion of the Arrangement
and the satisfaction or waiver, as applicable, of the conditions to the
acquisition agreement dated as of August 14, 2013 between the Company
and Triumph. Statements containing forward-looking information involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to
be different than those expressed by such statements. Accordingly,
undue reliance should not be placed on forward-looking statements. The
Company does not undertake to update any forward-looking statements
that are incorporated herein, except as required by applicable
securities laws.
SOURCE General Donlee Canada Inc.
Robert S. Kheir, MBA, CMA
Chief Financial Officer
Telephone: (416) 743-4417