Pursuant to Decision No. 04/1999/QD-TTg of the Government, the Sewing Bag Workshop under Bim Son Cement Company is converted into a joint-stock company with a charter capital of 38 billion VND, of which the State holds 50%, workers hold 8%, and external shareholders hold 42%. Workers are given preferential rights to purchase 31,810 shares with a preferential value of 954.3 million VND.
Key points
- The Sewing Bag Workshop of Bim Son Cement Company is converted into a joint-stock company with a charter capital of 38 billion VND, of which the State holds 50%, workers hold 8%, and external shareholders hold 42% (Article 1).
- Workers in the enterprise are given preferential rights to purchase 31,810 shares with a preferential value of 954.3 million VND (Article 1).
- Bim Son Packaging Joint-Stock Company's main business is the production and trading of various packaging materials and products made from plastic and paper (Article 3).
- The joint-stock company operates according to its Articles of Association and the Law on Enterprises, implementing an independent economic accounting system (Article 4).
- The General Director and Chief Accountant of the State-owned enterprise are responsible for managing the enterprise until the handover to the Board of Directors and General Director of Bim Son Packaging Joint-Stock Company (Article 4).
🌐 Social impact of this document
- Positive impact: Workers have the opportunity to own shares at a preferential price, increasing their benefits in the new enterprise.
- Negative impact: It may cause instability in work and income for workers if they are not adequately trained.
❓ Frequently asked questions
What is the charter capital of Bim Son Packaging Joint-Stock Company?
The charter capital of Bim Son Packaging Joint-Stock Company is 38,000,000,000 VND (Article 1).
What percentage of the charter capital does the State hold?
The State holds 50% of the charter capital of Bim Son Packaging Joint-Stock Company (Article 1).
How many shares are workers given preferential rights to purchase?
Workers in the enterprise are given preferential rights to purchase 31,810 shares (Article 1).
What is the main business of Bim Son Packaging Joint-Stock Company?
The main business of Bim Son Packaging Joint-Stock Company is the production and trading of various packaging materials and products made from plastic and paper (Article 3).
What is the preferential value of the shares that workers are given preferential rights to purchase?
Workers in the enterprise are given preferential rights to purchase shares with a preferential value of 954.3 million VND (Article 1).
Full text
DECISION OF THE PRIME MINISTER
Transfer the State-owned enterprise Bao Sewing Workshop under Bỉm Sơn Cement Corporation into a Joint Stock Company.
Approve the plan for the conversion of the State-owned enterprise: Bao Sewing Workshop of Bỉm Sơn Cement Corporation under Vietnam Cement Corporation as follows:
PRIME MINISTER
Pursuant to the Government Organization Law dated September 30, 1992;
Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998;
At the proposal of the Board of Directors of Vietnam Cement Corporation,
Pursuant to …;:
Article 1. 1. Charter Capital: 38,000,000,000 VND.
State Shares: 50% of the Charter Capital.
Employee Shares within the enterprise: 8% of the Charter Capital.
Outside Shares: 42% of the Charter Capital.
Total number of shares offered at a preferential price to employees within the enterprise: 31,810 shares, with a total preferential value of 954,300,000 VND.
2. Preferential treatment for employees within the enterprise:
Training and retraining for employees: 200,000,000 VND.
3. The enterprise after the conversion shall use the proceeds from the sale of shares as follows:
Transfer the State-owned enterprise: Bao Sewing Workshop of Bỉm Sơn Cement Corporation under Vietnam Cement Corporation into a Joint Stock Company.
Article 2. Full name in Vietnamese: Bỉm Sơn Packaging Joint Stock Company.
International trade name: BimSon Packing Company.
Abbreviation: BPC.
Head office: Bỉm Sơn Town, Thanh Hóa Province.
The main business activities of Bỉm Sơn Packaging Joint Stock Company are:
Article 3. Manufacturing and trading various types of packaging materials, plastic products, and paper products.
The Joint Stock Company:
Article 4. Is a legal entity under Vietnamese law from the date of registration for business operations, implementing independent economic accounting, having its own seal, and being allowed to open bank accounts according to the law. Operates according to the Articles of Association of the Joint Stock Company and the Law on Enterprises.
The Director and Chief Accountant of the State-owned enterprise are responsible for managing the business until the handover to the Board of Directors and General Director of Bỉm Sơn Packaging Joint Stock Company.
Entrust the Board of Management of Vietnam Cement Corporation, the Director of Bỉm Sơn Cement Corporation, the General Director of Bỉm Sơn Packaging Joint Stock Company, and related agencies to be responsible for implementing this Decision.
Article 5. This Decision takes effect from the date of signature. Abolish previous decisions that conflict with this Decision.
The Board of Directors of Vietnam Cement Corporation, the General Director of Bim Son Cement Company, the General Director of Bim Son Packaging Joint Stock Company, and relevant agencies shall be responsible for implementing this Decision.
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