Decision No. 26/2001/QĐ-TTg On the conversion of Khánh Hội Import-Export Company to Khánh Hội Import-Export Joint Stock Company

DECISION

Regarding the conversion of the Import-Export Khanh Hoi Company into the Khanh Hoi Import-Export Joint Stock Company

Pursuant to Decree No. 44/1998/NĐ-CP of the Government on the conversion of state-owned enterprises into joint stock companies;

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PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

Approves the plan for the privatization of the state-owned enterprise: the Import-Export Khanh Hoi Company under the People's Committee of Ho Chi Minh City, as proposed in Circular No. 610/UB-CN dated February 23, 2001, of the Chairman of the People's Committee of Ho Chi Minh City:

AT THE REQUEST OF THE CHAIRMAN OF THE PEOPLE'S COMMITTEE OF HO CHI MINH CITY,

DECISION:

Article 1. 1. The Charter Capital of the Joint Stock Company: 19,000,000,000 Vietnamese dong.

- State Shareholding Ratio: 29% of the Charter Capital.

Where:

- Shareholding Ratio sold to employees within the Company and other external entities: 71% of the Charter Capital.

2. The actual value of the Import-Export Khanh Hoi Company as of December 31, 1999, was 58,682,348,831 Vietnamese dong, of which the actual value of the state capital at the enterprise was 18,686,825,328 Vietnamese dong.

3. Preferential shares for employees:

Total number of shares sold at preferential prices to employees: 122,415 shares; total preferential value: 3,672,450,000 Vietnamese dong.

Converts the Import-Export Khanh Hoi Company under the People's Committee of Ho Chi Minh City into a joint stock company:

Article 2. - Full name in Vietnamese: Khanh Hoi Import-Export Joint Stock Company.

- International trade name: Khanh Hoi Import Export Joint Stock Company.

- Abbreviation: Khahomex

Head office: No. 2-4-6 Duong Nhu Hai Street, Ward 12, District 4, Ho Chi Minh City.

The Khanh Hoi Import-Export Joint Stock Company engages in the following business activities:

Article 3. - Import and export of consumer goods and production materials; - Production and trading of food, sweets, wine, beer, beverages...; processing of forestry products; - Production and processing of clothing, leather and faux leather, footwear...; - Authorized to engage in multiple industries according to the provisions of the law.

The Khanh Hoi Import-Export Joint Stock Company:

Article 4. - Is a legal entity under Vietnamese law from the date of registration for business operations, operates with independent economic accounting, has its own seal, and is allowed to open accounts at banks as prescribed by law, and operates according to the Articles of Association of the Joint Stock Company and the Enterprise Law.

- The General Director and Chief Accountant of the Import-Export Khanh Hoi Company are responsible for managing the business until the entire enterprise is handed over to the Board of Directors and the General Director of the Khanh Hoi Import-Export Joint Stock Company.

This Decision takes effect from the date of signature. Previous decisions contrary to this Decision are abolished. The Chairman of the People's Committee of Ho Chi Minh City, the General Director of the Import-Export Khanh Hoi Company, and the Board of Directors of the Khanh Hoi Import-Export Joint Stock Company are responsible for implementing this Decision./.

Article 5. This Decision takes effect from the date of signing. Decisions contrary to this Decision are hereby repealed. The Chairman of the People's Committee of Ho Chi Minh City, the General Director of Khanh Hoi Import-Export Company, and the Board of Directors of Khanh Hoi Import-Export Joint Stock Company are responsible for implementing this Decision./.