Decision No. 121/2004/QĐ-BCN On the transfer of the Mechanical Installation and Construction Workshop under the Mining Construction Company to the Installation and Construction Joint Stock Company

Pursuant to …;

Regarding the transfer of the Mechanical Installation and Construction Workshop under the Mining Construction Company to become the Installation and Construction Joint Stock Company

The Mining Construction Company

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating 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 Coal Corporation (Proposal No. 3719/TTr-HĐQT dated October 26, 2004, Plan for the Shareholding Reform of the Mechanical Installation and Construction Workshop under the Mining Construction Company and the Minutes of the Review of the Plan by the Enterprise Reform and Development Board of the Ministry on October 13, 2004); Approves the Plan for the Shareholding Reform of the Mechanical Installation and Construction Workshop under the Mining Construction Company (an independent accounting member enterprise of Vietnam Coal Corporation) including the following main points:

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

DECISION:

Article 1. The charter capital of the joint stock company is 2,375,000,000 VND (Two billion three hundred seventy-five million VND). Among which:

1. Capital structure:

- State shareholding ratio: 45.00%;

- Shareholding ratio sold to employees in the workshop: 51.30%;

- Shareholding ratio sold outside the workshop: 3.70%.

2. The actual value of the Mechanical Installation and Construction Workshop under the Mining Construction Company at the time of shareholding reform on July 1, 2004 (Decision No. 2406/QĐ-TCKT dated September 14, 2004 of the Ministry of Industry) is 10,836,038,714 VND. Of which, the actual value of the state capital portion in the workshop is 1,603,214,640 VND.

Value of one share: 100,000 VND.

The total number of preferential shares sold to 164 employees in the workshop is 10,172 shares with a preferential value of 305,160,000 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.

4. Regarding the costs of shareholding reform, retraining, and resolving surplus labor in the workshop, the Mining Construction Company shall handle the procedures, report to Vietnam Coal Corporation and relevant state agencies for approval according to current regulations.

Transfer the Mechanical Installation and Construction Workshop under the Mining Construction Company to become the Installation and Construction Joint Stock Company,

Article 2. COMEC

- International trade name: - Main office: Cam Tu Ward, Cam Pha City, Quang Ninh Province.; 

2. Certificate of establishment or decision on establishment of the organization (No...issued by the ministry, department, local government of...on...); - Repairing various types of equipment, mechanical processing;; 

- Constructing power networks and substations up to 35 kV;

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

- Installing mining, industrial, and civil works;

- Producing prestressed concrete poles and various types of concrete components;

- Trading materials and equipment;

The Installation and Construction Joint Stock Company is a legal entity under Vietnamese law from the date of business registration, independently accounting for economic activities, using its own seal, opening bank accounts in accordance with the law, operating according to the Company's Charter and the Law on Enterprises.

Directs Vietnam Coal Corporation to instruct the Mining Construction Company to proceed with selling shares and organizing the first General Meeting of Shareholders of the Installation and Construction Joint Stock Company in accordance with current regulations.

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

Article 4. The Director and Chief Accountant of the Mining Construction Company are responsible for managing the operations of the workshop until the full transfer of capital, assets, labor, and land to the Board of Directors and General Manager of the joint stock company.

Article 5. 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 Coal Corporation, the Director of the Mining Construction Company, and the Chairman of the Board of Directors and the General Director of the Installation and Construction Joint Stock Company are responsible for implementing this Decision./.

The General Director and Chief Accountant of the Mining Construction Company are responsible for managing the operations of the Enterprise until the entire capital, assets, workforce, and land are transferred to the Board of Directors and General Director of the Joint Stock Company.

Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Directors of Bureaus under the Ministry, the Chairman of the Board of Management, the General Director of Vietnam Coal Corporation, the General Director of the Mining Construction Company, and the Chairman of the Board of Management and General Director of the Installation and Construction Joint Stock Company are responsible for implementing this Decision./.