Decision No. 110/QD-TTg On transferring State-owned enterprise Viet Nam Boiler Company to joint stock company

Pursuant to …;

Regarding the conversion of state-owned enterprise Vietnam Boiler Company into a joint-stock company

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 PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

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;

Pursuant to the proposal of the Minister of Agriculture and Rural Development in Circular No. 4075/BNN-TCCB dated December 28, 2001,

DECISION:

Article 1. Approves the plan for the shareholding reform of the state-owned enterprise Vietnam Boiler Company under the Agricultural and Rural Engineering Corporation, Ministry of Agriculture and Rural Development as follows:

1. The charter capital of the joint-stock company: 12,000,000,000 VND.

Among which:

- State shareholding ratio: 20% of the charter capital.

- Shareholding ratio sold to employees within the enterprise: 70% of the charter capital.

- Shareholding ratio sold to external entities outside the enterprise: 10% of the charter capital.

2. The actual value of Vietnam Boiler Company at the time of 00:00 on January 1, 2001 for shareholding reform is 38,067,913,505 VND, of which the actual value of the state capital portion in the enterprise is 11,619,660,128 VND.

3. Preferential treatment for employees within the enterprise: The total number of shares sold at preferential prices to employees within the enterprise is 54,183 shares; the preferential value amount is 1,625,490,000 VND. Among these, the number of shares sold to poor employees is 10,836 shares, valued at 758,520,000 VND.

Article 2. Converts the state-owned enterprise Vietnam Boiler Company under the Agricultural and Rural Engineering Corporation, Ministry of Agriculture and Rural Development into a joint-stock company:

- Full name in Vietnamese: Vietnam Boiler Joint Stock Company.

- International trade name: VIETNAM BOILER JOINT STOCK COMPANY.

- Abbreviation: VBJ.Co.

- Head office: Block 3A, Dong Anh Town, Dong Anh District, Hanoi City.

Article 3. Vietnam Boiler Joint Stock Company operates in industries as prescribed by law.

Article 4. Vietnam Boiler Joint Stock Company:

- Is a legal entity under Vietnamese law from the date of issuance of business registration, operating according to the business license, implementing independent economic accounting, having its own seal, and opening accounts at banks as prescribed by law. Operates according to the Articles of Association of the joint-stock company and the Enterprise Law.

- The General Director and Chief Accountant of Vietnam Boiler Company are responsible for managing and operating the enterprise until the entire company is handed over to the Board of Directors and General Director of Vietnam Boiler Joint Stock Company.

Article 5. This Decision takes effect from the date of signing. Decisions contrary to this Decision are abolished. The Minister of Agriculture and Rural Development, the Board of Directors of the Agricultural and Rural Engineering Corporation, the General Director of Vietnam Boiler Company, and the Board of Directors of Vietnam Boiler Joint Stock Company are responsible for implementing this Decision./.