GDI Completes Redemption of 5.00% Convertible Unsecured Subordinated Debentures

LASALLE, QC, July 30, 2020 /CNW Telbec/ - GDI Integrated Facility Services Inc. (TSX: GDI) ("GDI") announces today that it has completed the previously announced redemption of all of its outstanding 5.00% convertible unsecured subordinated debentures maturing on December 31, 2021 (the "Debentures"). Following GDI's exercise of its redemption right, holders of an aggregate principal amount of $25,656,000 in Debentures exercised their conversion right and, in addition to certain cash payments in respect of accrued and unpaid interest and in lieu of fractional shares, 1,057,975 Subordinate Voting Shares in the capital of GDI were issued, the whole in accordance with the terms and conditions of the trust indenture governing the Debentures. On July 30, 2020, GDI redeemed the remaining non-converted Debentures, in the aggregate principal amount of $510,000, by paying the holders a redemption price (the "Redemption Price") in cash equal to the principal amount of the Debentures, plus accrued and unpaid interest up to but excluding the date hereof, for a total of approximately $1,004.11 per $1,000 principal amount of Debentures. Following payment of the Redemption Price, there remain no outstanding Debentures.

About GDI

GDI is a leading integrated commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, educational facilities, industrial facilities, healthcare establishments, stadiums and event venues, hotels, shopping centres, distribution facilities, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial and building maintenance, the installation, maintenance and repair of HVAC-R, mechanical, electrical and building automation systems, as well as other complementary services such as janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com.

SOURCE GDI Integrated Facility Services Inc.