Decision No. 1174/2000/QĐ-TTg On the conversion of Nha Trang Textile Materials Company to a Joint Stock Company

Pursuant to …;

Regarding the transformation of Nha Trang Textile Materials Company into a Joint Stock Company

PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

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 Chairman Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision).of the People's Committee of Khanh Hoa Province in Circular No. 1331/UB dated June 19, 2001,

DECISION:

Article 1. Approves the plan for the conversion of state-owned enterprise Nha Trang Textile Materials Company under the People's Committee of Khanh Hoa Province as follows:

1. The charter capital of the Joint Stock Company is 18,000,000,000 VND.

The form of conversion: selling 100% of the actual capital at the enterprise when converting to a joint stock company, including:

The proportion of shares sold to employees within the enterprise: 70% of the charter capital;

The proportion of shares sold to entities outside the enterprise: 30% of the charter capital, prioritizing in the following order: agents who sell raw materials and purchase products from the Company, workers and officials in Khanh Hoa Province, and other organizations and individuals outside the Company.

2. The actual value of Nha Trang Textile Materials Company as of July 1, 2000 is 40,225,361,180 VND, of which the actual value of state capital at the enterprise is 13,952,876,221 VND.

3. Preferential treatment for employees within the enterprise:

The total number of shares sold at preferential prices to employees within the enterprise is: 44,640 shares; the total preferential value is: 1,339,200,000 VND.

Among them, the preferential shares sold gradually to poor employees within the enterprise are 620 shares, with a preferential value of 18,600,000 VND.

4. Training and retraining expenses for employees shall be implemented according to current regulations.

Article 2. Transforming Nha Trang Textile Materials Company under the People's Committee of Khanh Hoa Province into a Joint Stock Company:

Full name in Vietnamese:

Nha Trang Garment Accessories Joint Stock Company

International trade name:

Nha Trang Garment Accessories Joint Stock Company

Abbreviation: ISE.Co;

Head office address: No. 02 Nguyen Thien Thuat Street, Nha Trang City, Khanh Hoa Province.

Article 3. Nha Trang Garment Accessories Joint Stock Company operates in the following industries:

Production and trading of various types of zipper and sewing accessories;

Garment manufacturing;

Trading and service provision;

Multi-industry operations in accordance with the law.

Article 4. Nha Trang Garment Accessories Joint Stock Company:

Is a legal entity under Vietnamese law from the date of registration for business operation, implementing independent economic accounting, having its own seal, being allowed to open bank accounts in accordance with the law, operating in accordance with the Company Charter and the Enterprise Law. The General Director and Chief Accountant of Nha Trang Textile Materials Company are responsible for managing the business until the entire enterprise is handed over to the Board of Directors and General Director of Nha Trang Garment Accessories Joint Stock Company.

Article 5. This Decision takes effect from the date of signature. Decisions contrary to this Decision are abolished. The Chairman of the People's Committee of Khanh Hoa Province, the General Director of Nha Trang Textile Materials Company, and the Board of Directors of Nha Trang Garment Accessories Joint Stock Company are responsible for implementing this Decision./.