Decision No. 40/2000/QĐ-BCN of the Ministry of Industry to convert Son A Dong Paint Enterprise into Son A Dong Paint Joint Stock Company with a charter capital of 6 billion VND, of which 60% is sold to employees and 40% is sold to other entities. This decision stipulates the capital structure, benefits for employees, company name, business activities, and responsibilities of related parties.
Đối tượng áp dụng
Son A Dong Paint Enterprise (now Son A Dong Paint Joint Stock Company), Vietnam Chemicals Corporation, Board of Directors, Director of Son A Dong Paint Enterprise, Chairman of the Board of Directors, and Director of Son A Dong Paint Joint Stock Company.
Các điểm cốt lõi
- The charter capital structure of the joint stock company is 6 billion VND, of which 60% is sold to employees and 40% is sold to other entities (Article 1).
- The actual value of Son A Dong Paint Enterprise is 29,777,280,025 VND, with the state-owned portion being 4,342,602,820 VND (Article 1).
- Employee benefits in the enterprise include selling 15,190 preferential shares worth 455,700,000 VND (Article 1).
- Vietnam Chemicals Corporation is permitted to use part of the proceeds from the sale of shares for the costs of shareholding transformation and employee training (Article 1).
- Son A Dong Paint Joint Stock Company operates from July 1, 2000, engaging in the production and trading of paint and related technical services (Article 3).
🌐 Tác động xã hội từ văn bản này
- Creating opportunities for employees to participate in company ownership through the sale of preferential shares (benefits).
- Reducing the financial burden on the state during the process of transforming state-owned enterprises into joint stock companies (positive).
- The company can operate independently and more flexibly after the transformation (positive).
❓ Câu hỏi thường gặp
What is the charter capital of Son A Dong Paint Joint Stock Company?
The charter capital of Son A Dong Paint Joint Stock Company is 6 billion VND.
How are employees in the enterprise given preferential treatment?
Employees in the enterprise are offered 15,190 shares at a preferential value of 455,700,000 VND, including 2,930 shares sold on credit to 19 poor workers.
How can Vietnam Chemicals Corporation use the proceeds from the sale of shares?
Vietnam Chemicals Corporation is allowed to use part of the proceeds from the sale of shares for the costs of shareholding transformation, training, and retraining of employees. The remaining amount after deducting costs will be added to the Fund for Supporting Business Restructuring and Shareholding Transformation.
What are the business activities of Son A Dong Paint Joint Stock Company?
Son A Dong Paint Joint Stock Company engages in the production and trading of paints, raw materials, equipment for the paint industry, and related technical services. Additionally, it conducts other businesses as prescribed by law.
When did Son A Dong Paint Joint Stock Company start operations?
Son A Dong Paint Joint Stock Company began operations from July 1, 2000.
Toàn văn
DECISION OF THE MINISTER OF INDUSTRY
Regarding the conversion of Son A Dong Workshop into Son A Dong Joint Stock Company
THE MINISTER OF INDUSTRY
Pursuant to the Government Decree No. 74/CP dated November 1, 1995 on the functions, tasks, powers, and organizational structure of the Ministry of Industry;
Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1999 of the Government on the transformation of state-owned enterprises into joint stock companies;
Considering the Plan to convert Son A Dong Workshop (a subsidiary accounting unit of Paint-Chemical Company, a member of Vietnam Chemical Corporation) into Son A Dong Joint Stock Company and the Minutes of Evaluation dated June 23, 2000, by the Enterprise Management Reform Board of the Ministry of Industry on the Plan;
Considering the proposal of the Chairman of the Board of Directors of Vietnam Chemical Corporation (Letter No. 148/CV-HĐQT dated May 31, 2000);
At the proposal of the Enterprise Management Reform Board of the Ministry of Industry and the Director of the Personnel and Organization Department,
DECISION:
Article 1. Approving the Plan for the conversion of Son A Dong Workshop (a subsidiary accounting unit of Paint-Chemical Company, a member of Vietnam Chemical Corporation) into a joint stock company, including the following main points.
The charter capital of the joint stock company is: 6,000,000,000 VND (six billion VND). Of which,
- The proportion of shares sold to employees of the Workshop: 60%;
- The proportion of shares sold to other entities outside the Workshop: 40%.
Value of one share: 100,000 Vietnamese dong.
2. The actual value of Son A Dong Workshop (Decision No. 84/QĐ-HĐQT dated April 19, 2000 of the Chairman of the Board of Directors of Vietnam Chemical Corporation on determining the value of Son A Dong Workshop) at the time of 00:00 on October 1, 1999 for the purpose of shareholding reform is: 29,777,280,025 VND. Of which, the actual value of the State capital portion in the Workshop is: 4,342,602,820 VND.
The total number of preferentially sold shares to 121 employees of the Workshop is 15,190 with a preferential value of 455,700,000 VND. Of which, the total number of gradually paid shares at preferential prices to 19 poor employees of the Workshop is 2,930, valued at 205,100,000 VND.
4. Agreeing to the proposal of Vietnam Chemical Corporation, allowing the use of part of the proceeds from selling shares belonging to the State capital of Son A Dong Workshop for restructuring costs, training, and retraining of workers, Paint-Chemical Company and Son A Dong Workshop shall follow the regulations, report to Vietnam Chemical Corporation for consideration and resolution according to the State's regulations. The proceeds from selling shares belonging to the State capital, after deducting restructuring costs, training, and retraining, will be supplemented to the Fund for Supporting Restructuring and Shareholding Reform of State-owned Enterprises of Vietnam Chemical Corporation.
Article 2. Converting Son A Dong Workshop into Son A Dong Joint Stock Company from July 1, 2000,
- Vietnamese name: Son A Dong Joint Stock Company,
- English name: ADONG PAINT JOINT STOCK COMPANY, abbreviated as: ADP,
- Head office located at: 1387 Ben Binh Dong Street, Ward 15, District 8, Ho Chi Minh City.
Article 3. Business activities of the company (at the time of conversion to a joint stock company):
1. Producing, trading, and exporting paint products and raw materials, equipment for the paint industry; designing and providing various technical services related to paint products and raw materials, equipment for the paint industry.
2. Engaging in other business activities as prescribed by law.
Article 4. Son A Dong Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operations, implementing independent economic accounting, using its own seal, opening bank accounts according to the law, operating according to the Articles of Association of the joint stock company and the Law on Enterprises.
Article 5. Vietnam Chemical Corporation is responsible for directing Paint-Chemical Company and Son A Dong Workshop to organize the Founding Shareholders' Meeting (electing the Board of Directors, Supervisory Board, and adopting the Articles of Association of the joint stock company).
The Director and Chief Accountant of Paint-Chemical Company and Son A Dong Workshop are responsible for managing the operations of the Workshop until the transfer to the Board of Directors and General Director of Son A Dong Joint Stock Company (including transferring the license agreement for the Kansai Paint brand that Paint-Chemical Company signed with Kansai Paint (Singapore) Pte Ltd, approved by the Minister of Science and Technology and Environment in Decision No. 69/QĐ-BKHCNMT dated January 19, 2000 and registered with the National Office of Intellectual Property on January 31, 2000 to Son A Dong Joint Stock Company).
Article 6. This Decision takes effect from the date of signing. Decisions contrary to this Decision are abolished.
The Head of the Ministry's Office, the Inspector General, Department Heads, Bureau Chiefs under the Ministry, the Chairman of the Board of Directors, General Director of Vietnam Chemical Corporation, the Director of Paint-Chemical Company, the Director of Son A Dong Workshop, and the Chairman of the Board of Directors, General Director of Son A Dong Joint Stock Company are responsible for implementing this Decision./.
DEPUTY MINISTER
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