Decision No. 40/2004/QĐ-BCN amends Clause 3, Article 1 of Decision No. 249/2003/QĐ-BCN, providing preferential treatment for employees of Mineral Development Company 4 when it transforms into a joint stock company. Employees are entitled to purchase 26,457 shares at a preferential value of 793,710,000 VND.
Scope of application
Employees of Mineral Development Company 4
Key points
- Employees of Mineral Development Company 4 → are entitled to purchase 26,457 shares at a preferential value of 793,710,000 VND.
🌐 Social impact of this document
- Employees benefit from the preferential policy, increasing their opportunity to own shares of the company.
- The company may reduce business costs through the sale of preferential shares to employees.
❓ Frequently asked questions
How many shares are employees entitled to purchase?
Employees of Mineral Development Company 4 are entitled to purchase 26,457 preferential shares.
What is the preferential value per share?
The total preferential value for 26,457 shares is 793,710,000 VND, which is approximately 30,000 VND per share.
How many shares can employees purchase?
The Decision does not specify the number of shares that employees can purchase, only determining the total number of preferential shares sold as 26,457.
When does this Decision take effect?
This Decision takes effect fifteen days after its publication in the Official Gazette.
Who is responsible for implementing this Decision?
The Director of the Ministry's Office, the Inspector General of the Ministry, Heads of Departments, Directors of Bureaus under the Ministry, the Chairman of the Board of Directors, the General Director of Vietnam Minerals Corporation, the Director of Mineral Development Company 4, and the Chairman of the Board of Directors, and the General Director of Mineral Development Joint Stock Company 4 are responsible for implementing this Decision.
Full text
Pursuant to …;
Regarding the amendment of Clause 3, Article 1 of Decision No. 249/2003/QĐ-BCN dated December 31, 2003
of the Minister of Industry on the transfer of the Development Minerals Corporation 4
to the Development Minerals Joint Stock Corporation 4
______________________
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 Minerals Corporation at Circular No. 488/CV-TCKT dated May 20, 2004;
At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,
DECISION:
Article 1. Amend Clause 3, Article 1 of Decision No. 249/2003/QĐ-BCN dated December 31, 2003 of the Minister of Industry on the transfer of the Development Minerals Corporation 4 to the Development Minerals Joint Stock Corporation 4 as follows:
"3. Employee benefits.
The total number of preferential shares sold to 325 employees in the company is 26,457 shares with a preferential value of 793,710,000 VND.
Article 2. 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, Heads of Departments, Directors of Bureaus under the Ministry, Chairman of the Board of Directors, General Director of Vietnam Minerals Corporation, Director of Development Minerals Corporation 4, and Chairman of the Board of Directors, General Director of Development Minerals Joint Stock Corporation 4 are responsible for implementing this Decision./.
DEPUTY MINISTER
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