Decision No. 01/2000/QĐ-BNN-TCCB converts Lien Son Agricultural and Industrial Tea Enterprise into Lien Son Joint Stock Tea Company, stipulates actual value, charter capital, management of proceeds from share sale, land management, power lines, and debts. The Decision takes effect from the date of signing.
Scope of application
Lien Son Agricultural and Industrial Tea Enterprise, Lien Son Joint Stock Tea Company
Key points
- Lien Son Agricultural and Industrial Tea Enterprise is converted into Lien Son Joint Stock Tea Company with a charter capital of 817,000,000 VND, of which the State holds 13.5%, employees hold 66.7%, and other entities hold 19.8%.
- The actual value of the enterprise as of January 1, 1999, was 4,545,727,200 VND, of which the State's portion was 817,209,626 VND.
- Preferential shares for workers in the enterprise: 5,448 shares valued at 163,441,925 VND and 1,089 shares for poor workers to be paid off slowly valued at 76,230,000 VND.
- Land, power lines, and debts of Lien Son Agricultural and Industrial Tea Enterprise must be handed over or managed according to the law.
- Lien Son Joint Stock Tea Company operates independently with its own seal, separate bank account, implements the company's articles of association, and complies with business laws.
🌐 Social impact of this document
- Positive impact: Lien Son Joint Stock Tea Company can enhance business efficiency through new management mechanisms.
- Negative impact: Workers may face difficulties in holding preferential shares, especially those who pay off slowly.
❓ Frequently asked questions
What is the charter capital of Lien Son Joint Stock Tea Company?
The charter capital of Lien Son Joint Stock Tea Company is 817,000,000 VND.
What percentage of the charter capital does the State hold?
The State holds 13.5% of the charter capital of Lien Son Joint Stock Tea Company.
What is the value of the preferential shares for workers?
The total number of preferential shares for workers is 5,448 shares, valued at 163,441,925 VND.
In which sector does Lien Son Joint Stock Tea Company operate?
Lien Son Joint Stock Tea Company produces and purchases fresh tea leaves, processes them into black and green tea products suitable for market demands; provides commercial services for tea products within the country and exports according to legal regulations; engages in comprehensive trading of agricultural products, livestock farming, and processed agricultural goods.
When does this Decision take effect?
This Decision takes effect from the date of signing.
Full text
Pursuant to …;
Regarding the conversion of the Lien Son Agricultural and Industrial Tea Enterprise into the Lien Son Joint Stock Tea Company
______________________________
THE MINISTER OF AGRICULTURE AND RURAL DEVELOPMENT
Considering the proposal of the Board of Directors of the Vietnam Livestock Corporation and the Director of the Cadre and Civil Service Department;
Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998 of the Government on the conversion of state-owned enterprises into joint stock companies;
Considering the results of the Appraisal Council's assessment of the plan to convert the Lien Son Agricultural and Industrial Tea Enterprise into a joint stock company, the proposal of the Enterprise Management Reform Board under the Ministry, the Director-General and the Personnel Organization Department, the Management Board and General Director of the Vietnam Tea Corporation, and the Enterprise Management Reform Board of the Lien Son Agricultural and Industrial Tea Enterprise.
DECISION:
Article 1. Approves the plan to convert the Lien Son Agricultural and Industrial Tea Enterprise, a state-owned enterprise and an independent accounting unit of the Vietnam Tea Corporation, with the following contents:
1. The actual value of the enterprise at the time of 00:00 on January 1, 1999 is 4,545,727,200 VND (four billion, five hundred forty-five million, seven hundred twenty-seven thousand, two hundred VND). Among this, the actual value of the state capital in the enterprise is: 817,209,626 VND (eight hundred seventeen million, two hundred ninety thousand, six hundred twenty-six VND).
2. The charter capital of the joint stock company: 817,000,000 VND (eight hundred seventeen million VND). The charter capital is divided into 8,170 shares with the following structure:
- State: 1,102 shares, accounting for 13.5% of the charter capital - Employees: 5,448 shares, accounting for 66.7% of the charter capital - Other objects: 1,619 shares, accounting for 19.8% of the charter capital
3. Preferential shares for employees in the enterprise:
- Total number of preferential shares for all employees in the enterprise: 5,448 shares (five thousand four hundred forty-eight shares). Value: 163,441,925 VND (one hundred sixty-three million, four hundred forty-one thousand, nine hundred twenty-five VND)
- Total number of preferential shares for poor employees with deferred payment: 1,089 shares (one thousand eighty-nine shares). Value: 76,230,000 VND (seventy-six million, two hundred thirty thousand VND)
4. Management of proceeds from share sales: Implemented according to Section V, Part II of Circular No. 104/1998/TT-BTC dated July 18, 1998 of the Ministry of Finance regarding guidance on financial matters when state-owned enterprises are converted into joint stock companies, and Section VI of Circular No. 3138/TC-TCDN dated August 19, 1998 of the Ministry of Finance regarding guidance on implementing the conversion of state-owned enterprises into joint stock companies.
Article 2. Regarding land management, transfer of power lines, and recovery of debts
1. In Circular No. 882/CP-NN dated August 21, 1999, the Government permitted the Lien Son Joint Stock Tea Company to continue managing the land that the Lien Son Agricultural and Industrial Tea Enterprise had leased out to households under Decree No. 01/CP dated January 4, 1995 of the Government regarding the leasing of land for agricultural, forestry, and aquaculture production in state-owned enterprises.
2. For other types of land such as forest land, stream beds, rocky mountains, natural grasslands, roads, irrigation works, schools, markets, sports fields...the Lien Son Agricultural and Industrial Tea Enterprise must prepare a report and hand over to the provincial People's Committee of Yen Bai Province for management in accordance with the Land Law.
3. Regarding the transfer of high-voltage power lines: The Lien Son Agricultural and Industrial Tea Enterprise and the Vietnam Tea Corporation shall implement according to the contents of the following circulars:
- No. 345/VPCP-KTN dated January 31, 1998 of the Government Office regarding the transfer of the 35kV power line of the Vietnam Tea Corporation to the Vietnam Power Corporation for management.
- Guidance No. 538/TC-TCDN dated February 28, 1998 of the Ministry of Finance regarding the transfer of the 35kV power line of the Vietnam Tea Corporation to the Vietnam Power Corporation for management.
- Joint Circular No. 04/1999 dated August 27, 1999 of the Ministry of Industry and the Ministry of Finance guiding the transfer and repayment of medium voltage rural power grid funds.
4. Regarding the debts of the Lien Son Agricultural and Industrial Tea Enterprise to the Vietnam Tea Corporation, including cooperative capital with the former Soviet Union and Poland, the Corporation will create favorable conditions for the Lien Son Agricultural and Industrial Tea Enterprise to smoothly transition to a joint stock company.
Article 3. Convert the Lien Son Agricultural and Industrial Tea Enterprise into the Lien Son Joint Stock Tea Company with the following contents:
1. Full name in Vietnamese: Lien Son Joint Stock Tea Company.
2. Place of business: Nong Trai Lien Son Town, Van Chan District, Yen Bai Province.
3. Business activities:
- Production and purchase of fresh tea leaves, processing into black and green tea products suitable for market demands.
- Trading services for tea products domestically and for export in accordance with the law.
- Engaging in comprehensive trading of crop and livestock products, and processed agricultural products.
Article 4. The Lien Son Joint Stock Tea Company is a legal entity under Vietnamese law from the date it receives its business registration, operates independently, has its own seal, and can open bank accounts in accordance with the law, and operates in accordance with the company's articles of association and the Enterprise Law.
The Director and Chief Accountant of the Lien Son Agricultural and Industrial Tea Enterprise have the responsibility to manage and operate the Company until the entire enterprise is handed over to the Management Board and the Director of the Lien Son Joint Stock Tea Company.
From the date of handover, the Decision establishing the Lien Son Agricultural and Industrial Tea Enterprise ceases to be effective.
Article 5. This Decision replaces Decision No. 172-1999/QĐ-BNN-TCCB and takes effect from the date of signing. The Head of the Ministry's Office, the Director of the Personnel Organization Department, the Enterprise Management Reform Board of the Ministry, the heads of relevant units under the Ministry, the Management Board and General Director of the Vietnam Tea Corporation, the Director and the Enterprise Management Reform Board of the Lien Son Agricultural and Industrial Tea Enterprise, and the Lien Son Joint Stock Tea Company are responsible for implementing this Decision.
DEPUTY MINISTER
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