General Donlee Announces Automatic Securities Purchase Plan for 2014 Convertible Debentures and Common Shares

TORONTO, Nov. 24, 2011 /CNW/ - General Donlee Canada Inc. ("General Donlee" or the "Corporation") (TSX: GDI), announced today that the Toronto Stock Exchange ("TSX") has accepted General Donlee's request to establish an automatic securities purchase plan (the "Plan") for its convertible unsecured subordinated debentures due 2014 (Trading Symbol: GDI.DB) and its common shares (Trading Symbol: GDI) (the convertible debentures and the common shares collectively referred to as the "Securities").

The Plan was established to provide standard instructions regarding how General Donlee's Securities are to be purchased under the Corporation's issuer bids for the Securities announced on November 10, 2011. Accordingly, General Donlee may purchase its Securities in accordance with the Plan on any trading day during the issuer bids including during self-imposed trading blackout periods. The Plan will commence immediately and terminate together with each issuer bid on November 13, 2012. General Donlee may otherwise vary, suspend or terminate the Plan only if it does not have material non-public information, the decision to vary, suspend or terminate the Plan is not taken during a self-imposed trading blackout period and is otherwise varied, suspended, or terminated in accordance with the terms of the Plan.

The Plan constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and has been reviewed and approved by the TSX. Should the Plan be materially varied, suspended, or terminated, General Donlee will disseminate a press release advising of such variation, suspension or termination as the case may be.

Company Profile

General Donlee Canada Inc. is a leading diversified manufacturer of precision-machined products for the military, commercial and general aerospace industries and is a specialist in the manufacture of precision-machined products for the industrial products and power generation industries. General Donlee's operating strategy focuses on targeting niche markets for products that are aligned with its sophisticated manufacturing capabilities and skilled workforce.

SOURCE General Donlee Canada Inc.

For further information:

Garen Mikirditsian, Chief Financial Officer
Telephone:  (416) 743-4417
E-mail:  info@generaldonlee.com
Web site:  www.generaldonlee.com

 

Organization Profile

General Donlee Canada Inc.

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