Decision No. 15/QĐ-TTg On the transformation of FIMEXCO Company for Production, Trading Services and Import Export in District 1 into a Joint Stock Company for Production, Trading Services and Import Export in District 1

Pursuant to …;

Regarding the transformation of the Production, Business, Service, and Import-Export Company of District I (FIMEXCO) into the Joint Stock Production, Business, Service, and Import-Export Company of District I

______________________________

 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;

Considering the proposals of the People's Committee of Ho Chi Minh City in Circulars No. 3915/QĐ-CNN dated November 5, 2001, No. 3916/UB-CNN dated November 5, 2001, and No. 4617/UB-CNN dated December 8, 2001 on the Shareholding Reform Plan for the Production, Business, Service, and Import-Export Company of District I (FIMEXCO),

DECISION:

Article 1. Approves the Shareholding Reform Plan for the Production, Business, Service, and Import-Export Company of District I (FIMEXCO) as follows:

1. The charter capital of the joint stock company is 13,800,000,000 VND.

Among which:

- The proportion of shares managed by the Finance Board of the Ho Chi Minh City Party Committee: 10% of the charter capital;

- The proportion of shares sold to employees of the company: 65% of the charter capital;

- The proportion of shares sold to other shareholders: 25% of the charter capital.

- Ratio of shares sold to other shareholders: 25% of the registered capital.

2. The actual value of the Production, Business, Service, and Import-Export Company of District I (FIMEXCO) as of December 31, 1999 was 93,767,195,022 VND, of which the actual value of the owner's equity at the enterprise was 16,719,907,026 VND.

3. Preferential share allocation for employees: The total number of shares sold at preferential prices to employees is 6,925 shares, with a preferential value of 207,420,000 VND.

Article 2. Transform the Production, Business, Service, and Import-Export Company of District I (FIMEXCO) into a joint stock company:

- Full name in Vietnamese: JOINT STOCK PRODUCTION, BUSINESS, SERVICE, AND IMPORT-EXPORT COMPANY OF DISTRICT I.

- International trade name: FIRST DISTRICT PRODUCING IMPORT EXPORT TRADING AND SERVICE JOINT STOCK COMPANY.

- Abbreviation: FIMEXCO.

- Main office address: 71 Dong Khoi Street, District I, Ho Chi Minh City.

Article 3. The Joint Stock Production, Business, Service, and Import-Export Company of District I (FIMEXCO) shall operate in the business sectors registered by the Production, Business, Service, and Import-Export Company of District I in Ho Chi Minh City and other sectors as prescribed by law.

Article 4. The Joint Stock Production, Business, Service, and Import-Export Company of District I:

- Is a legal entity under Vietnamese law from the date of registration for business operations, implementing independent economic accounting, having its own seal, and being allowed to open accounts at banks as prescribed by law, operating according to the Articles of Association of the joint stock company and the Enterprise Law.

- The General Director and Chief Accountant of the Production, Business, Service, and Import-Export Company of District I (FIMEXCO) are responsible for managing the company's operations until the entire company is handed over to the Board of Directors and the General Director of the Joint Stock Production, Business, Service, and Import-Export Company of District I.

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 Ho Chi Minh City, the General Director of the Production, Business, Service, and Import-Export Company of District I (FIMEXCO), and the Board of Directors of the Joint Stock Production, Business, Service, and Import-Export Company of District I are responsible for implementing this Decision./.