Decision No. 06/2004/QD-BBCVT on the conversion of the Postal Construction Company under the Can Tho Post Corporation into the Can Tho Telecommunications Investment and Construction Joint Stock Company.

Pursuant to …;

ON THE TRANSFORMATION OF THE POST AND TELECOMMUNICATION CONSTRUCTION COMPANY UNDER CAN THO POST INTO CAN THO TELECOMMUNICATION CONSTRUCTION AND INVESTMENT JOINT-STOCK COMPANY

THE MINISTER OF POST AND TELECOMMUNICATIONS

Pursuant to Decree No. 90/2002/NĐ-CP dated November 11, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Posts and Telecommunications;
Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the transformation of state-owned enterprises into joint-stock companies;

Pursuant to Decree No. 51/CP dated August 1, 1995 of the Government approving the Charter of Operations and Activities of Vietnam Post and Telecommunications Corporation;

Pursuant to Document No. 261/CP-ĐMDN dated March 11, 2003 of the Government approving the list of state-owned enterprises and parts of state-owned enterprises to be transformed into joint-stock companies during the period 2003-2005 of Vietnam Post and Telecommunications Corporation;

Pursuant to Decision No. 635/QĐ-BBCVT dated September 1, 2003 of the Minister of Posts and Telecommunications on the determination of the value of the enterprise for transformation into a joint-stock company of the Post Construction Company under Can Tho Post - Vietnam Post and Telecommunications Corporation;

Considering Document No. 264/TCCB dated December 26, 2003 of the Board of Directors of Vietnam Post and Telecommunications Corporation proposing approval of the plan for transformation into a joint-stock company and deciding to transform the Post Construction Company under Can Tho Post into Can Tho Telecommunication Construction and Investment Joint-Stock Company;

At the proposal of the Director of the Personnel and Organization Department and the Director of the Planning and Finance Department,

DECISION:

Article 1: The Post Construction Company under Can Tho Post shall be transformed into Can Tho Telecommunication Construction and Investment Joint-Stock Company from the date when the joint-stock company receives its business registration and in accordance with the accounting year.

International trade name: CANTHO TELECOMMUNICATION CONSTRUCTION AND INVESTMENT JOINT-STOCK COMPANY

Abbreviation: CTC

The registered office is located at: 102 August Revolution Street, Cai Khe Ward, Can Tho City.

Article 2: Approve the plan for transforming the Post Construction Company under Can Tho Post - Vietnam Post and Telecommunications Corporation into Can Tho Telecommunication Construction and Investment Joint-Stock Company as follows:

1. Registered capital and capital structure:

The registered capital of the joint-stock company is 5,000,000,000 VND (five billion VND), divided into 50,000 ordinary shares with each share valued at 100,000 VND, including:

- State capital ratio (Vietnam Post and Telecommunications Corporation as representative): 30% of the registered capital, corresponding to 15,000 shares with a total value of 1,500,000,000 VND;

- Employee share ratio within the company: 25% of the registered capital, corresponding to 12,500 shares with a total value of 1,250,000,000 VND, including preferential shares for employees within the company amounting to 4,935 shares with a total value of 493,500,000 VND, preferential value: 148,050,000 VND;

- Share ratio sold to external entities: 45% of the registered capital, corresponding to 22,500 shares with a total value of 2,250,000,000 VND.

2. Value of the company at the time of transformation (June 30, 2002):

- Actual value of the company: 5,958,160,040 VND;

- Actual value of state capital in the company: 946,112,585 VND.

3. Form of transformation:

Maintain the existing state capital in the enterprise, issue shares to attract additional capital (as stipulated in Clause 1, Article 3 of Decree No. 64/2002/NĐ-CP).

Article 3: Can Tho Telecommunication Construction and Investment Joint-Stock Company will operate in the following industries:

1. Construction and installation of specialized postal and telecommunication works, broadcasting, television, electronics, information technology, industrial and civil works;

2. Installation, maintenance, and repair of telecommunications, information technology equipment, industrial and civil equipment;

3. Consulting, surveying, designing, project investment planning, construction supervision, and support for the construction of specialized postal and telecommunication works, broadcasting, television, electronics, information technology, industrial and civil works;

4. Production of construction materials and related materials and accessories for the company's construction and installation industry;

5. Other businesses in compliance with the provisions of the law.

Article 4: Can Tho Telecommunication Construction and Investment Joint-Stock Company is a legal entity under Vietnamese law from the date it is granted business registration, conducts independent economic accounting, uses its own seal, opens bank accounts in accordance with the law, and operates according to the Charter of the Joint-Stock Company, the Enterprise Law, and other relevant laws.

Vietnam Post and Telecommunications Corporation is responsible for directing Can Tho Post, the Post Construction Company under Can Tho Post to sell initial public offerings in accordance with Article 24 of Decree No. 64/2002/NĐ-CP of the Government and guiding Circulars of the Ministry of Finance, organizing the General Meeting of Shareholders of the Joint-Stock Company, managing operations until the transfer of all capital, assets, labor... and related documents of the Post Construction Company under Can Tho Post to the Board of Directors and General Director of Can Tho Telecommunication Construction and Investment Joint-Stock Company.

Article 5: This Decision takes effect fifteen days from the date of publication in the Official Gazette.

Article 6: The Head of the Office, the Director of the Personnel and Organization Department, the Director of the Planning and Finance Department, the Chairman of the Board of Directors, the General Director of Vietnam Post and Telecommunications Corporation, the Director of Can Tho Post, the Director of the Post Construction Company under Can Tho Post, and the Chairman of the Board of Directors and the General Director of Can Tho Telecommunication Construction and Investment Joint-Stock Company are responsible for implementing this Decision.