Decision No. 53/1999/QD-BNN/TCCB On the conversion of the Veterinary Drugs and Supplies Enterprise into a joint-stock company

Pursuant to …;

Regarding the conversion of the Veterinary Pharmaceutical and Supplies Enterprise into a joint-stock company

THE MINISTER OF AGRICULTURE AND RURAL DEVELOPMENT

Pursuant to Decree No. 73/CP dated November 1, 1995 of the Government stipulating the functions, tasks, 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 Management Reform Board of the Ministry of Agriculture and Rural Development, the Director of the Cadre and Civil Service Department, and the Management Reform Board of the Veterinary Pharmaceutical and Supplies Enterprise,

 DECISION:

Article 1. Approving the plan for the conversion of the Veterinary Pharmaceutical and Supplies Enterprise (an independent state-owned enterprise under the Ministry of Agriculture and Rural Development) into a joint-stock company, including the following main contents: 1.1. The actual value of the Enterprise at the time of 00:00 on January 1, 1999 is: 11,433,727,716 VND (eleven billion four hundred thirty-three million seven hundred twenty-seven thousand seven hundred sixteen VND). Of which, the actual value of the state capital in the Enterprise is: 2,026,722,779 VND (two billion twenty-six million seven hundred twenty-two thousand seven hundred seventy-nine VND).

1.2. The Charter Capital of the joint-stock company: 4,000,000,000 VND (four billion VND). The total capital is divided into 40,000 shares (forty thousand shares), with the following structure:

Shareholding ratio of state capital:

Charter Capital; 20% Shareholding ratio sold to employees of the Enterprise: 5% of Charter Capital;

Shareholding ratio sold to entities outside the Enterprise: 29% of Charter Capital

1.3. Benefits for employees of the Enterprise:

Total number of shares sold at a preferential price to employees of the Enterprise: 13,501 shares (thirteen thousand five hundred one shares). The preferential value amount is 405,030,000 VND (four hundred five million thirty thousand VND).

Total number of shares sold at a preferential price to poor employees of the Enterprise to be paid gradually: 2,706 shares (two thousand seven hundred six shares), valued at: 189,000,000 VND (one hundred eighty-nine million VND).

1.4. Organization of share sale proceeds management. 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 Point 6 of Document No. 3138 TCDN dated August 19, 1998 of the Ministry of Finance regarding guidance on implementing the conversion of state-owned enterprises into joint-stock companies.

Converting the Veterinary Pharmaceutical and Supplies Enterprise into a joint-stock company with the following characteristics:

Article 22.1. Full name in Vietnamese: Veterinary Pharmaceutical and Supplies Joint-Stock Company. International trade name: PHARMACEUTICAL & VETERINARY MATERIAL COMPANY.

Abbreviation: HANVET Co

2.2. Place of business: No. 88, Truong Chinh Street, Dong Da District, Hanoi City.

2.3. Business activities:

Veterinary pharmaceutical industry;

Livestock feed processing industry;

Wholesale and retail trade.

The Veterinary Pharmaceutical and Supplies Joint-Stock Company is a legal entity under Vietnamese law from the date of registration for business, operating independently, having its own seal, opening accounts at banks as prescribed by law, and conducting activities in accordance with the Articles of Association of the Veterinary Pharmaceutical and Supplies Joint-Stock Company and the Law on Enterprises.

This Decision takes effect from the date of signature. The leadership and management staff of the Veterinary Pharmaceutical and Supplies Enterprise are responsible for managing and operating the Enterprise until the full transfer of the Enterprise to the Board of Directors and General Director of the Veterinary Pharmaceutical and Supplies Joint-Stock Company. From the transfer date, the decision establishing the Veterinary Pharmaceutical and Supplies Enterprise ceases to be effective.

Article 3The Head of the Office of the Ministry, the Director of the Cadre and Civil Service Department, the Heads of relevant units under the Ministry, the Management Reform Board of the Ministry, the Director and the Management Reform Board of the Veterinary Pharmaceutical and Supplies Enterprise are responsible for implementing this Decision./. Veterinary pharmaceuticals and supplies is a legal entity under Vietnamese law from the date of business registration, operates with independent economic accounting, has its own seal, is entitled to open bank accounts in accordance with the law, and operates in accordance with the Articles of Association of the Veterinary Pharmaceutical and Supplies Joint Stock Company and the Law on Enterprises.

Article 4This Decision takes effect from the date of signature. The leadership and management staff of the Veterinary Pharmaceutical and Supplies Enterprise are responsible for managing and operating the Enterprise until the full transfer of the Enterprise to the Board of Directors and General Director of the Veterinary Pharmaceutical and Supplies Joint Stock Company. From the transfer date, the Decision establishing the Veterinary Pharmaceutical and Supplies Enterprise ceases to be effective.

Article 5The Head of the Ministry's Office, the Director of the Cadre and Civil Servant Organization Department, the Heads of relevant units under the Ministry, the Business Management Reform Board of the Ministry, the Director and the Business Management Reform Board of the Veterinary Pharmaceutical and Supplies Enterprise are responsible for implementing this Decision./.