Decision No. 72/2000/QĐ-BCN of the Ministry of Industry on the conversion of Hoa Binh Textile Company to Hoa Binh Textile Joint Stock Company, stipulates the charter capital structure, actual value of the company, preferential treatment for employees, and business conditions.
Key points
- Hoa Binh Textile Company is converted into a joint stock company with a charter capital of 6,600,000,000 VND, of which the State holds 25%, employees of the company are given preference to purchase 66%, and other parties hold 9%.
- The actual value of Hoa Binh Textile Company is 19,109,424,912 VND, including the State's share capital of 6,588,020,281 VND.
- Employees of the company are given preference to purchase 43,510 shares, including 1,240 shares reserved for 12 poor workers.
- Hoa Binh Textile Company can use part of the proceeds from selling shares to cover the costs of shareholding transformation, retraining workers, and investing in basic construction.
- The company operates from April 1, 2001 under the name Hoa Binh Textile Joint Stock Company.
🌐 Social impact of this document
- Creating conditions for employees of the company to purchase preferential shares, helping them benefit from the process of shareholding transformation.
- Enhancing the efficiency of management and operations of the enterprise through the joint stock company form.
- The company will engage in businesses related to textile manufacturing, direct import and export, creating additional opportunities for both domestic and international markets.
❓ Frequently asked questions
What is the charter capital of Hoa Binh Textile Joint Stock Company?
The charter capital of Hoa Binh Textile Joint Stock Company is 6,600,000,000 VND.
What percentage of shares does the State hold in the company?
The State holds 25% of the shares in Hoa Binh Textile Joint Stock Company.
How many shares are employees given preferential rights to purchase?
Employees are given preferential rights to purchase 43,510 shares.
What can Hoa Binh Textile Company use the proceeds from selling shares for?
Hoa Binh Textile Company can use part of the proceeds from selling shares to cover the costs of shareholding transformation, retraining workers, and investing in basic construction.
When did Hoa Binh Textile Company officially operate under the joint stock company form?
Hoa Binh Textile Company officially operated from April 1, 2001.
Full text
DECISION OF THE MINISTER OF INDUSTRY
Regarding the conversion of the Company
Hoa Binh Textile into Hoa Binh Textile Joint Stock Company
THE MINISTER OF INDUSTRY
Pursuant to Decree No. 74/CP dated November 1, 1995 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Industry;
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;
Considering the Plan for converting Hoa Binh Textile Company (a member enterprise of Vietnam Textile and Garment Corporation) into Hoa Binh Textile Joint Stock Company and the Appraisal Report dated November 24, 2000 of the Enterprise Management Reform Board of the Ministry of Industry regarding the Plan;
Considering the proposal of the Board of Directors of Vietnam Textile and Garment Corporation (Proposal No. 1574/TTr-HĐQT dated November 2, 2000);
At the recommendation of the Enterprise Management Reform Board of the Ministry of Industry and the Director of the Organization and Cadre Affairs Department,
DECISION:
Article 1. Approve the Plan for the conversion of Hoa Binh Textile Company (a member enterprise of Vietnam Textile and Garment Corporation) including the main points as follows.
1. Registered capital structure.
The charter capital of the Hoa Binh Textile Joint Stock Company is: 6,600,000,000 VND (six billion six hundred million VND). Of which, State shareholding ratio: 25%; Shareholding ratio sold to employees within the company: 66%; Shareholding ratio sold to other entities outside the company: 9%. Value of one share: 100,000 VND.
2. The actual value of Hoa Binh Textile Company (Decision No. 469/QĐ-HĐQT dated August 24, 2000 of the Chairman of the Board of Directors of Vietnam Textile and Garment Corporation on determining the value of Hoa Binh Textile Company) at the time of 00:00 on January 1, 2000 for the purpose of conversion is: 19,109,424,912 VND. Of which, the actual value of the state capital portion in the company is: 6,588,020,281 VND.
3. Preferential treatment for employees in the company. The total number of shares sold preferentially to 576 employees in the company is 43,510 shares with a preferential value of 1,305,300,000 VND. Of which, the total number of shares sold gradually at a preferential price to 12 poor employees in the company is 1,240 shares worth 86,800,000 VND.
4. Agreeing to the proposal of Vietnam Textile and Garment Corporation, permit the use of part of the proceeds from selling state shares of Hoa Binh Textile Company for the costs of conversion, retraining of employees, and basic construction investment. Hoa Binh Textile Company shall follow the prescribed procedures, report to Vietnam Textile and Garment Corporation for review and decision in accordance with state regulations.
Article 2. Convert Hoa Binh Textile Company into Hoa Binh Textile Joint Stock Company from April 1, 2001,
Name in Vietnamese: Hoa Binh Textile Joint Stock Company,
Name in English: HOA BINH GARMENT JOINT STOCK COMPANY, abbreviated as: PEGARIMEX,
Head office located at: 830 Nguyen Duy Ben Street, Ward 12, District 8, Ho Chi Minh City.
Article 3. The company operates in the following industries (at the time of conversion to a joint stock company):
Production and trading of textile garments, Direct import and export, Other production and trading activities in compliance with the law.
Article 4. Hoa Binh Textile Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business, implements independent economic accounting, uses its own seal, opens bank accounts in accordance with the law, and operates according to the Company's Charter and the Law on Enterprises.
Article 5. Vietnam Textile and Garment Corporation is responsible for directing Hoa Binh Textile Company to organize the Founding Shareholders' Meeting (to elect the Board of Directors, Supervisory Board, and approve the Company's Charter).
The General Director and Chief Accountant of Hoa Binh Textile Company are responsible for managing the company's operations until they hand over to the Board of Directors and General Director of Hoa Binh Textile Joint Stock Company.
Article 6. This Decision takes effect 15 days after the date of signature. Abolish previous Decisions that conflict with this Decision.
The Head of the Ministry's Office, the Inspector General, the Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors, the General Director of Vietnam Textile and Garment Corporation, the General Director of Hoa Binh Textile Company, and the Chairman of the Board of Directors and General Director of Hoa Binh Textile Joint Stock Company are responsible for implementing this Decision./.
DEPUTY MINISTER
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