Decision No. 130/2003/QĐ-BCN On the conversion of Hung Phu Glass Factory into Hung Phu Glass Joint Stock Company

DECISION OF THE MINISTER OF INDUSTRY
Regarding the conversion of Hung Phu Glass Factory into
Hung Phu Glass Joint Stock 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 Hung Phu Glass Factory (Document No. 63/CV-HP/2003 dated July 7, 2003), the plan for the conversion of Hung Phu Glass Factory into a joint stock company, and the review report of the Enterprise Reform and Development Board on July 15, 2003;

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

DECISION:

Article 1. Approves the plan for the conversion of Hung Phu Glass Factory (a subsidiary under the Ministry of Industry) 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 factory: 41.07%;

The proportion of shares sold outside the factory: 7.93%.

The value of one share: 100,000 VND.

2. The actual value of Hung Phu Glass Factory at the time of December 31, 2002 for the purpose of conversion (Decision No. 1385/QĐ-TCKT dated June 13, 2003 of the Ministry of Industry) is 35,497,550,320 VND. Among this, the actual value of the State capital in the factory is 10,861,331,792 VND.

3. Employee benefits.

The total number of preferential shares sold to 222 employees within the factory is 33,870 shares with a preferential value of 1,106,100,000 VND.

4. Regarding the costs of conversion, retraining of employees, and resolution of surplus labor, the factory shall proceed with the necessary procedures and report to the Ministry of Industry and relevant state authorities for approval according to current regulations.

Article 2. Convert Hung Phu Glass Factory into Hung Phu Glass Joint Stock Company,

International trading name: HUNG PHU MEDICAL GLASS JOINT STOCK COMPANY;

Abbreviation: HUNGPHUMEGLASS;

Main office located at: No. 84 Pham The Hien Street, Ward 2, District 8, Ho Chi Minh City.

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

Production and business of pharmaceutical glass packaging;

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

Article 4. Hung Phu Glass 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 in accordance with the Articles of Association of the Joint Stock Company and the Law on Enterprises.

Article 5. Hung Phu Glass Factory shall organize the auction of shares sold outside the factory and convene the first General Meeting of Shareholders of Hung Phu Glass Joint Stock Company in accordance with current regulations.

The Director and Chief Accountant of Hung Phu Glass Factory are responsible for managing the operation of the factory until the transfer of all capital, assets, labor, and land to the Board of Directors and General Director 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, Heads of Departments and Bureaus under the Ministry, the Director of Hung Phu Glass Factory, and the Chairman of the Board of Directors and General Director of Hung Phu Glass Joint Stock Company are responsible for implementing this Decision.