Decision No. 07/2004/QĐ-BBCVT Regarding the conversion of the Post Construction Company under the Dong Thap Post Corporation into the Dong Thap Telecommunications Investment and Construction Joint Stock Company

Pursuant to …;

REGARDING THE TRANSFORMATION OF THE POST AND TELECOMMUNICATIONS CONSTRUCTION COMPANY UNDER THE POST OFFICE OF DONG THAP PROVINCE INTO DONG THAP 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 Organization and Operation 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 and Telecommunications Construction Company under the Post Office of Dong Thap Province - Vietnam Post and Telecommunications Corporation;

Considering the letter No. 263/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 and Telecommunications Construction Company under the Post Office of Dong Thap Province into Dong Thap 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. Transform the Post and Telecommunications Construction Company under the Post Office of Dong Thap Province into Dong Thap Telecommunication Construction and Investment Joint-Stock Company from the date when the joint-stock company receives the business registration and in accordance with the accounting period.

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

Abbreviation: DTC.

The registered office is located at: 83-85 Nguyen Hue Street, Cao Lanh City, Dong Thap Province.

Article 2Approve the plan for transformation of the Post and Telecommunications Construction Company under the Post Office of Dong Thap Province - Vietnam Post and Telecommunications Corporation into Dong Thap Telecommunication Construction and Investment Joint-Stock Company with the following contents:

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 a value of 100,000 VND each, including:

- State capital ratio (Vietnam Post and Telecommunications Corporation as representative): 40% of the registered capital, corresponding to 20,000 shares with a total value of 2,000,000,000 VND;

- Ratio of shares sold to employees within the company: 30% of the registered capital, corresponding to 15,000 shares with a total value of 1,500,000,000 VND, including preferential shares for employees within the company: 1,880 shares with a total value of 188,000,000 VND, preferential value: 56,400,000 VND;

- Ratio of shares sold to entities outside the company: 30% of the registered capital, corresponding to 15,000 shares with a total value of 1,500,000,000 VND.

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

- Actual value of the company: 5,103,042,957 VND;

- Actual value of state capital in the company: 338,203,349 VND.

3. Form of transformation:

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

Article 3Dong Thap Telecommunication Construction and Investment Joint-Stock Company shall operate in the following industries:

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

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

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

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

5. Operating other industries in accordance with the provisions of the law.

Article 4Dong Thap Telecommunication Construction and Investment Joint-Stock Company is a legal entity under Vietnamese law from the date it receives its business registration, implements independent economic accounting, uses its own seal, opens bank accounts in accordance with the law, operates according to the charter of the joint-stock company, the Enterprise Law, and relevant laws and regulations.

Vietnam Post and Telecommunications Corporation is responsible for directing the Post Office of Dong Thap Province and the Post and Telecommunications Construction Company of Dong Thap Province 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 shareholders' meeting of the joint-stock company, managing operations until the transfer of all capital, assets, labor... and related documents of the Post and Telecommunications Construction Company of Dong Thap Province to the Board of Directors and General Manager of Dong Thap 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 the Post Office of Dong Thap Province, the Director of the Post and Telecommunications Construction Company of Dong Thap Province, and the Chairman of the Board of Directors and the General Manager of Dong Thap Telecommunication Construction and Investment Joint-Stock Company are responsible for implementing this Decision./.