Decision No. 112/2003/QĐ-BCN on the conversion of An Giang Centrifugal Concrete Enterprise under Vietnam Industrial Construction Corporation into An Giang Centrifugal Concrete Joint Stock Company

Regarding the transfer of An Giang Centrifugal Concrete EnterpriseDecree

Vietnam National Construction Industry Corporationto Joint Stock Companyname,

An Giang Centrifugal Concrete An Giang Centrifugal Concrete Enterprise 离婚安江中心律师事务所

________________________

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 Vietnam National Construction Industry Corporation (Document No. 480/CV-TCKT dated June 5, 2003, Plan for the Conversion of An Giang Centrifugal Concrete Enterprise into a Joint Stock Company and the Minutes of the Evaluation Meeting of the Enterprise Reform and Development Board of the Ministry on June 27, 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 Conversion of An Giang Centrifugal Concrete Enterprise, a subsidiary of Vietnam National Construction Industry Corporation, including the following main points:

1. Capital structure:

The charter capital of the joint stock company is 15,000,000,000 VND (Fifteen billion VND). Of which:

State shareholding ratio: 51.00%;

The proportion of shares sold to employees within the enterprise: 31.66%;

The proportion of shares sold outside the enterprise: 17.34%.

Value of one share: 100,000 VND.

2. The actual value of An Giang Centrifugal Concrete Enterprise at the time of December 31, 2002 for conversion into a joint stock company (Decision No. 1063/QĐ-TCKT dated May 22, 2003 of the Ministry of Industry) is 61,587,581,577 VND. Among this, the actual value of the State capital in the company is 13,646,599,151 VND.

4. Regarding the privatization costs, retraining of employees, and surplus labor resolution of the enterprise, An Lac Shoe Company will handle the procedures, report to the Ministry of Industry and relevant state authorities for approval according to current regulations.

The total number of preferential shares sold to 446 employees within the enterprise is 29,189 shares with a preferential value of 875,670,000 VND. Among these, the number of preferential shares sold on credit to 10 poor employees is 702 shares, valued at 49,140,000 VND.

4. Regarding the costs of converting into a joint stock company, retraining employees, and resolving surplus labor at the enterprise, Vietnam National Construction Industry Corporation will handle the procedures, report to the Ministry of Industry and relevant state agencies for approval according to current regulations.

Article 2. Transfer An Giang Centrifugal Concrete Enterprise to An Giang Centrifugal Concrete Joint Stock Company

International trade name: AN GIANG CENTRIFUGAL CONCRETE JOINT STOCK COMPANY;

Abbreviation: ACECO;

Head office: Vam Cong Industrial Zone, My Thoi Ward, Long Xuyen City, An Giang Province.

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

- Production and trading of industrial concrete products (electric poles, piles, pipes, precast concrete components, commercial concrete);

- Installation of power transmission lines and substations up to 110KV, residential and industrial electricity;

- Construction of industrial, public, infrastructure, water conservancy, and civil works;

- Production and trading of mechanical products (lifting equipment, specialized equipment for producing industrial concrete products, steel structures, non-standard products);

- Investment consulting, technology transfer for industrial concrete products;

- Design of industrial concrete, mechanical, and lifting equipment products;

- Trading and import/export of construction materials, spare parts, and technical equipment;

- Cargo transportation;

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

Article 4. An Giang Centrifugal Concrete Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operations, independently accounting for economic activities, using its own seal, opening bank accounts in accordance with the law, operating according to the Articles of Association of the Joint Stock Company and the Law on Enterprises.

Article 5. Entrusting Vietnam National Construction Industry Corporation to organize the auction of shares sold outside the enterprise and to organize the first General Meeting of Shareholders of An Giang Centrifugal Concrete Joint Stock Company in accordance with current regulations.

The General Director and Chief Accountant of Vietnam National Construction Industry Corporation are responsible for managing the affairs of the enterprise 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 Chairman of the Board of Directors, and the General Director of Vietnam National Construction Industry Corporation, and the Chairman of the Board of Directors and General Manager of An Giang Centrifugal Concrete Joint Stock Company are responsible for implementing this Decision./.