Decision No. 111/2003/QĐ-BCN on transferring the Dong Hai Porcelain Factory under the Hai Duong Porcelain Company to the Dong Hai Porcelain Joint Stock Company

Pursuant to …;

Regarding the transfer of Dong Hai Porcelain Factory under Hai Duong Porcelain Company name,

Dong Hai Porcelain Joint Stock Company

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THE MINISTER OF INDUSTRY

Pursuant to the Government Decree No. 74/CP dated November 1, 1995 on the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;

Considering the proposal of Hai Duong Porcelain Company (Document No. 434/CV-TCKT dated June 12, 2003, Plan for the Shareholding Reform of Dong Hai Porcelain Factory and the Appraisal Report of the Enterprise Reform and Development Board on June 26, 2003);

At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,

DECISION: 

Article 1. Approving the Plan for the Shareholding Reform of Dong Hai Porcelain Factory under Hai Duong Porcelain Company - an independent enterprise under the Ministry of Industry, including the following main points:

1. Capital structure:

The charter capital of the joint stock company is 2,000,000,000 VND (Two billion VND). Among which:

- State shareholding ratio: 20.0%;

- Shareholding ratio sold to employees within the factory: 14.7%;

- Shareholding ratio sold outside the factory: 65.3%.

Value of one share: 100,000 VND.

2. The actual value of Dong Hai Porcelain Factory at the time of December 31, 2002 for shareholding reform (Decision No. 1244/QĐ-TCKT dated June 4, 2003 of the Ministry of Industry) is 2,715,880,003 VND. Among which, the actual value of state capital at the company is 1,962,001,405 VND.

3. Employee benefits.

The total number of preferential shares sold to 41 employees within the factory is 2,940 shares with a preferential value of 88,200,000 VND.

4. Regarding the costs of shareholding reform, retraining employees, and resolving surplus labor of the factory, Hai Duong Porcelain Company will handle procedures, report to the Ministry of Industry and relevant state agencies for approval according to current regulations.

Article 2. Transforming Dong Hai Porcelain Factory into Dong Hai Porcelain Joint Stock Company,

Located at Dong Co Commune, Tien Hai District, Thai Binh Province.

Article 3. The joint stock company engages in the following business activities:

- Producing electrical porcelain, industrial porcelain;

- Engaging in other businesses in accordance with the provisions of the law.

Article 4. Dong Hai Porcelain Joint Stock Company shall be a legal entity under Vietnamese law from the date of registration for business, independently accounting for economic activities, using its own seal, opening bank accounts in accordance with the law, operating in accordance with the Company's Charter and the Law on Enterprises.

Article 5. Entrusting Hai Duong Porcelain Company to organize the public auction of shares sold outside the factory and to organize the first General Meeting of Shareholders of Dong Hai Porcelain Joint Stock Company in accordance with current regulations.

The Director and Chief Accountant of Hai Duong Porcelain Company are responsible for managing the operations of the factory until the full transfer of capital, assets, labor, and land to the Board of Directors and General Manager of the joint stock company.

Article 6. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the Director of Hai Duong Porcelain Company, and the Chairman of the Board of Directors and General Manager of Dong Hai Porcelain Joint Stock Company are responsible for implementing this Decision./.