Decision No. 30/2000/QD-BNN-TCCB on converting Company Dredging and Construction 28 into Joint Stock Company Dredging and Construction 28

Pursuant to …;

Regarding the conversion of Company Dredging and Construction 28 into Joint Stock Company Dredging and Construction 28

________________________

THE MINISTER OF AGRICULTURE AND RURAL DEVELOPMENT

Pursuant to Decree No. 73/CP dated November 1, 1995 of the Government on the functions, duties, powers, and organizational structure of the Ministry of Agriculture and Rural Development;
Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998 of the Government on converting state-owned enterprises into joint stock companies;
Considering the proposal of the Appraisal Council for the State-Owned Enterprise Shareholding Scheme and the Director of the Cadre and Civil Service Department,

DECISION:

Article 1. Approves the privatization plan for Company Dredging and Construction 28 (a state-owned enterprise operating independently, a member unit of the First Water Resources Construction Corporation - Ministry of Agriculture and Rural Development), including the following main contents:

1. The actual value of the Enterprise at the time of 0 hours on December 31, 1998 for privatization is: 8,027,940,848 Vietnamese dong (eight billion, two hundred seventy million, nine hundred forty thousand, eight hundred forty-eight Vietnamese dong). Among this, the actual value of the State's capital in the Enterprise is: 595,860,556 Vietnamese dong (five hundred ninety-five million, eight hundred sixty thousand, five hundred fifty-six Vietnamese dong).

2. The Charter Capital of the Joint Stock Company: 1,200,000,000 Vietnamese dong (one billion, two hundred million Vietnamese dong). The total capital is divided into 12,000 shares, each share being 100,000 Vietnamese dong, with the following charter capital structure:

- State share ratio: 12% of the charter capital (equivalent to 1,440 shares);

- Share ratio sold to employees of the Enterprise: 88% of the charter capital (equivalent to 10,560 shares).

3. Benefits for employees within the enterprise:

- Total preferential shares for employees of the Enterprise is: 5,959 shares. The preferential value portion is: 178,755,000 Vietnamese dong (one hundred seventy-eight million, seven hundred fifty-five thousand Vietnamese dong).

- Total preferential shares for poor employees of the Enterprise to be paid gradually is: 1,192 shares. The gradual payment value portion is: 83,419,000 Vietnamese dong (eighty-three million, four hundred nineteen thousand Vietnamese dong).

4. Management of proceeds from the sale of shares: Implemented according to Section V, Part II of Circular No. 104/1998/TT-BTC dated July 18, 1998 of the Ministry of Finance, guiding financial matters when converting state-owned enterprises into joint stock companies, and Item 6 of Document No. 3138 TC/TCDN dated August 19, 1998 of the Ministry of Finance regarding guidance on implementing the privatization of state-owned enterprises.

Article 2. Converts Company Dredging and Construction 28 into a joint stock company with the following characteristics:

1. Full name in Vietnamese: Joint Stock Company Dredging and Construction 28

2. Main office address: No. 125, Truong Thi Street, Truong Thi Ward, Thanh Hoa City, Thanh Hoa Province

3. Business fields:

- Excavation and filling of land surfaces, excavation and construction of foundations, excavation and construction of projects;

- Installation of masonry, stone, concrete, reinforced concrete structures;

- Installation of mechanical and electrical equipment, power transmission lines, and transformer stations;

- Construction of medium and small water conservancy projects, small dams and reservoirs with height < 15 meters;

- Completion of construction works;

Article 3. Joint Stock Company Dredging and Construction 28 is a legal entity under Vietnamese law from the date of registration for business operation, implementing independent economic accounting, having its own seal, opening bank accounts in accordance with the law, and operating in accordance with the Articles of Association of Joint Stock Company Dredging and Construction 28 and the Law on Enterprises.

Article 4. This Decision takes effect from the date of signature. The leadership and management staff of Company Dredging and Construction 28 are responsible for managing and operating the Company until the entire Enterprise is handed over to the Board of Directors and General Director of Joint Stock Company Dredging and Construction 28. From the handover date, the decision establishing Company Dredging and Construction 28 ceases to be effective.

Article 5. The Head of the Ministry’s Office, the Director of the Cadre and Civil Servant Organization Department, the Enterprise Management Reform Board of the Ministry, the Heads of units related to the Ministry, the Board of Directors and General Manager of the First Water Resources Construction Corporation, the Director and the Enterprise Management Reform Board at Company Dredging and Construction 28 are responsible for enforcing this Decision.