Decision No. 54/2001/QD-TTg On the transfer of state-owned enterprise Thang Long Soft Drinks and Alcohol Company to a joint-stock company

Pursuant to …;

Regarding the conversion of state-owned enterprises

Thang Long Soft Drinks Alcohol Corporation becomes a joint-stock company

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PRIME MINISTER

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

Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998 of the Government on the conversion of state-owned enterprises into joint-stock companies;

Pursuant to the proposal of the Chairman of the People's Committee of Hanoi City at Document No. 17/TT-UB dated March 15, 2001, and Document No. 21/CV-UB dated April 4, 2001,

DECISION:

Article 1. Approves the plan for the conversion of state-owned enterprise Thang Long Soft Drinks Alcohol Corporation under the People's Committee of Hanoi City as follows:

1. The charter capital of the joint-stock corporation: 11,600,000,000 VND.

Where:

- State shareholding ratio: 40% of the charter capital.

- Shareholding ratio sold to employees within the corporation and other external subjects: 60% of the charter capital.

2. The actual value of Thang Long Soft Drinks Alcohol Corporation at the time of July 1, 2000 for the purpose of conversion to a joint-stock corporation is 34,071,587,806 VND, including the actual value of the state capital in the corporation: 11,547,379,462 VND.

3. Preferential treatment for employees within the enterprise:

The total number of shares sold at a preferential price to employees within the corporation is 30,251 shares; the preferential value amount: 907,530,000 VND.

Among which, the number of shares sold to poor employees is 5,620 shares, with a deferred payment value of 393,400,000 VND.

4. Expenses for subsidies to surplus employees, training and retraining of employees within the corporation shall be implemented according to the current regulations.

Article 2. Converts the state-owned enterprise Thang Long Soft Drinks Alcohol Corporation under the People's Committee of Hanoi City into a joint-stock corporation.

- Full name in Vietnamese: Thang Long Joint-Stock Corporation.

- International trade name: ThangLong Joint-Stock Company.

- Abbreviation: Thang Long JSC.

- Head office: No. 181 Lac Long Quan Street, Nghia Do, Cau Giay District, Hanoi City.

Article 3. Thang Long Joint-Stock Corporation engages in the following business activities:

- Production of alcoholic and non-alcoholic beverages; various packaging materials.

- Hotel management, food products, processed foodstuffs, grains, and foodstuffs.

Article 4. Thang Long Joint-Stock Corporation.

- Is a legal entity under Vietnamese law from the date of registration for business operations, conducting business according to the registered permit, implementing independent economic accounting, having its own seal, and opening bank accounts in accordance with the law. Operating according to the Articles of Association of the joint-stock corporation and the Enterprise Law.

- The Director and Chief Accountant of Thang Long Soft Drinks Alcohol Corporation are responsible for managing and operating the enterprise until the entire corporation is handed over to the Board of Directors and General Director of Thang Long Joint-Stock Corporation.

Article 5. This Decision takes effect from the date of signing. Decisions contrary to this Decision are abolished. The Chairman of the People's Committee of Hanoi City, the Director of the Department of Commerce of Hanoi City, the Director of Thang Long Soft Drinks Alcohol Corporation, and the Board of Directors of Thang Long Joint-Stock Corporation are responsible for implementing this Decision./.