Decision No. 164/2004/QĐ-BCN of the Ministry of Industry on the conversion of Ninh Binh Export Garment Company to Ninh Binh Export Garment Joint Stock Company, stipulating the charter capital structure, actual value of the company, benefits for employees, and business activities.
Scope of application
Ninh Binh Export Garment Company (after conversion), Vietnam Textile - Garment Corporation, employees of the Company.
Key points
- The joint stock company has a charter capital of 3,000,000,000 VND, of which the State holds 40% and employees hold 60%.
- The actual value of Ninh Binh Export Garment Company at the time of shareholding reform is 18,926,131,369 VND, of which the State's capital portion is 558,023,590 VND.
- Employees are given preferential treatment to purchase 11,922 shares with a preferential value of 357,660,000 VND.
- The company engages in business activities such as production, trading of garment products, raw materials and accessories, machinery and equipment, real estate, office space, housing for workers, direct import and export, and vocational training.
- Ninh Binh Export Garment Joint Stock Company operates according to the Articles of Association of the Joint Stock Company and the Enterprise Law.
🌐 Social impact of this document
- Creating opportunities for employees to purchase shares, increasing ownership rights and economic benefits.
- Enhancing corporate governance efficiency through the transformation of the company model.
- Developing the textile and garment industry and exports in Ninh Binh Province.
❓ Frequently asked questions
What is the charter capital of the joint stock company?
The charter capital of the joint stock company is 3,000,000,000 VND (Three billion VND).
What is the proportion of State and employee shares in the company?
The proportion of State shares is 40%, and that of employees is 60%.
What is the actual value of Ninh Binh Export Garment Company?
The actual value of Ninh Binh Export Garment Company at the time of shareholding reform is 18,926,131,369 VND.
How many shares are employees entitled to purchase under preferential terms?
Employees are entitled to purchase 11,922 shares under preferential terms with a preferential value of 357,660,000 VND.
What industries does the company operate in?
The company operates in industries such as production, trading of garment products, raw materials and accessories, machinery and equipment, real estate, office space, housing for workers, direct import and export, and vocational training.
Full text
Pursuant to …;
Regarding the conversion of Ninh Binh Export Garment Company into Ninh Binh Export Garment Joint Stock Company
Conversion of Ninh Binh Export Garment Company into Ninh Binh Export Garment 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 Vietnam Textile and Garment Corporation (Proposal No. 2216 TTr/HĐQT dated December 2, 2004), the plan for the conversion of Ninh Binh Export Garment Company into a joint stock company, and the verification report of the Enterprise Reform and Development Board of the Ministry dated December 7, 2004;
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 Ninh Binh Export Garment Company (an independent accounting member enterprise of Vietnam Textile and Garment Corporation) comprising the following main points:
1. Capital structure:
The registered capital of the joint stock company is 3,000,000,000 VND (Three billion VND). Of which:
- State share: 40.00%;
- Share sold to employees of the company: 60.00%.
Value of one share: 100,000 VND.
2. The actual value of Ninh Binh Export Garment Company at the time of December 31, 2003 for the purpose of conversion into a joint stock company (Decision No. 2950/QĐ-TCKT dated November 9, 2004 of the Ministry of Industry) is 18,926,131,369 VND. Of which, the actual value of the state capital in the company is 558,023,590 VND.
Additional capital from Vietnam Textile and Garment Corporation to the company is 1,200,000,000 VND (Decision No. 0965 QĐ/TCKT dated December 8, 2004 of Vietnam Textile and Garment Corporation).
3. Employee benefits. A total of 11,922 shares with a discounted value of 357,660,000 VND are sold preferentially to 851 employees of the company.
4. Regarding the costs of conversion, retraining of employees, and surplus labor resolution, the company shall process and report to Vietnam Textile and Garment Corporation and relevant state agencies for approval in accordance with current regulations.
Article 2. Convert Ninh Binh Export Garment Company into Ninh Binh Export Garment Joint Stock Company,
- International trade name: NINHBINH GARMENT EXPORT JOINT STOCK COMPANY;
- Abbreviation: NIGACO;
- Head office: No. 9, Dinh Tien Hoang Street, Ninh Binh City, Ninh Binh Province.
Article 3. The joint stock company engages in the following business activities:
- Production and trading of garment products;
- Trading of raw materials, machinery, equipment for the textile and garment industry, and handicrafts, fine arts, food, and consumer goods;
- Real estate trading, office space, housing for workers;
- Direct import and export;
- Training of sewing workers;
- Engaging in other businesses in accordance with the provisions of the law.
Article 4. Ninh Binh Export Garment Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business; it is entitled to use its own seal and open bank accounts in accordance with the law; it organizes and operates in accordance with the Articles of Association of the joint stock company and the Law on Enterprises.
Article 5. Vietnam Textile and Garment Corporation is responsible for directing Ninh Binh Export Garment Company to organize the sale of shares and to organize the first General Meeting of Shareholders of the joint stock company in accordance with current regulations.
The Director and Chief Accountant of Ninh Binh Export Garment Company are responsible for managing the operations of the company until the transfer of all capital, assets, labor, and land to the Board of Directors and General Manager 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 Bureaus under the Ministry, the Chairman of the Board of Directors, and the General Director of Vietnam Textile and Garment Corporation, the Director of Ninh Binh Export Garment Company, and the Chairman of the Board of Directors and General Director of Ninh Binh Export Garment Joint Stock Company are responsible for implementing this Decision./.
DEPUTY MINISTER
Relations map
Click a document to open. A red border = a relation that changes validity.
Translations
This document is available in the following languages: