Decision No. 22/2004/QD-BVHTT On the conversion of the Construction Cultural Project Company into the Construction Cultural Project Joint Stock Company

Pursuant to …;

Regarding the conversion of the Cultural Construction Works Enterprise into a joint-stock Cultural Construction Works Enterprise

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THE MINISTER OF CULTURE AND INFORMATION

On the basis of Decree No. 63/2003/NĐ-CP dated June 11, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Culture and Information;

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 the Director of the Cultural Construction Works Enterprise (Circular No. 106/CV-XDCTVH dated May 20, 2004) regarding the Plan for the Conversion of the Cultural Construction Works Enterprise into a Joint-Stock Company and the Minutes of the Evaluation of the Plan for the Conversion of the Cultural Construction Works Enterprise by the Department of Enterprise Reform and Development on June 2, 2004;

At the proposal of the Head of the Planning and Finance Department and the Head of the Organization and Cadre Affairs Department,

DECISION:

Article 1: Approve the Plan for the Conversion of the Cultural Construction Works Enterprise into a Joint-Stock Company comprising the following main points:

1. Form of conversion: Selling part of the existing state capital in the enterprise to convert it into a joint-stock company.

2. Capital structure:

The registered capital of the joint-stock company is 3,039,800,000 VND (three billion, thirty-nine million, eight hundred thousand VND). Of which:

- State share: 30%

- Share sold to employees of the company: 70%.

Value of one share: 100,000 VND.

3The actual value of the Cultural Construction Works Enterprise at the time of July 1, 2003 for the purpose of conversion (Decision No. 151/QĐ-BVHTT dated January 28, 2004 of the Minister of Culture and Information) is 17,605,992,683 VND. Of which, the actual value of the state capital in the company is 3,039,817,322 VND (three billion, thirty-nine million, eight hundred seventeen thousand, three hundred twenty-two VND).

4. Employee benefits.

A total of 13,537 shares with a discounted value of 406,110,000 VND are sold preferentially to 83 employees of the company. Among them, 752 shares with a value of 52,640,000 VND are sold preferentially to three poor employees.

5As for the costs of conversion, retraining, and surplus labor resolution, the company will process the necessary procedures and report to the Ministry of Culture and Information and relevant state agencies for approval according to current regulations.

6The enterprise shall use the proceeds from the sale of shares as follows:

- Conversion costs.

- Any remaining amount shall be transferred to the National Treasury according to current regulations.

Article 2: Convert the Cultural Construction Works Enterprise into the Cultural Construction Works Joint-Stock Enterprise.

- International trade name: Culture Construction Joint Stock Company.

- Abbreviation: CCCo.

- Main office address: No. 8/260 Cau Giay Street, Cau Giay District, Hanoi City.

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

- Construction of cultural and civil works.

- Repair and restoration of historical, cultural, and artistic heritage sites.

- Surveying, designing, creating, and implementing investment projects for monuments, grand paintings, art paintings, historical paintings, and historical and cultural heritage sites.

- Construction of civil, industrial, water conservancy, transportation, and infrastructure development works.

- Interior and exterior decoration of museum, traditional house, cultural house, and other works.

- Trading and exhibiting cultural products in the field of museums and decorative arts.

- Trading construction materials.

- Consulting, brokerage of real estate, investment in housing, and leasing of offices.

Article 4: The Cultural Construction Works Joint-Stock Enterprise is a legal entity under Vietnamese law from the date of issuance of the business registration certificate, operates independently, uses its own seal, opens bank accounts according to the law, and operates according to the Company Charter and the Law on Enterprises.

Article 5: The Cultural Construction Works Enterprise shall organize the sale of shares and convene the first shareholders' meeting of the joint-stock company in accordance with current regulations.

The Director and Chief Accountant of the Cultural Construction Works Enterprise are responsible for managing the operations of the enterprise 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 Heads of the Office, the Organization and Cadre Affairs Department, the Planning and Finance Department, the Director of the Cultural Construction Works Enterprise, and the Heads of related agencies and units are responsible for implementing this Decision.