Decision No. 76/2000/QĐ-BCN On the transformation of Workshop IV of Binh Tay Steel Mesh Factory into Saigon Steel Mesh Joint Stock Company

Pursuant to …;

Regarding the transformation of Workshop IV of Binh Tay Steel Wire Mesh Factory into

Saigon Steel Wire Mesh 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 proposal of the Chairman of the Board of Directors of Vietnam Steel Corporation (report No. 2040/T-TC dated November 30, 2000), the plan of South Vietnam Steel Company regarding the transformation of Workshop IV of Binh Tay Steel Wire Mesh Factory into Saigon Steel Wire Mesh Joint Stock Company and the verification minutes of December 8, 2000 of the Enterprise Management Reform Committee of the Ministry of Industry on the plan;

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. Approves the plan for the transformation of Workshop IV of Binh Tay Steel Wire Mesh Factory (a subsidiary of South Vietnam Steel Company, a member of Vietnam Steel Corporation) into a joint stock company, including the following main points.

1. Registered capital structure.

The charter capital of the joint stock company is: 10,000,000,000 VND (ten billion VND). Of which,

- State share ratio: 21.15%;

- Share ratio sold to employees in the workshop: 20.00%;

- Share ratio sold to other entities outside the workshop: 58.85%.

Value of one share: 100,000 Vietnamese dong.

2. The actual value of Workshop IV of Binh Tay Steel Wire Mesh Factory (Decision No. 773/QĐ-T-TC dated May 16, 2000 of the Chairman of the Board of Directors of Vietnam Steel Corporation on determining the value of Workshop IV of Binh Tay Steel Wire Mesh Factory) at the time of 00:00 on January 1, 2000 for the purpose of shareholding is: 7,050,000,000 VND.

Among that, the actual value of state capital in Workshop IV is: 7,050,000,000 VND.

3. Preferential treatment for workers in Workshop IV.

A total of 10,600 preferential shares are sold to 75 employees in the workshop with a preferential value of 318,000,000 VND. Among that, a total of 2,120 preferential shares worth 148,400,000 VND are sold on credit to 26 poor employees.

4. Approves the proposal of Vietnam Steel Corporation, allowing the use of part of the proceeds from the sale of state-owned shares of Workshop IV of Binh Tay Steel Wire Mesh Factory for the costs of shareholding and retraining of workers. Binh Tay Steel Wire Mesh Factory and South Vietnam Steel Company shall follow the prescribed procedures, report to Vietnam Steel Corporation for consideration and decision in accordance with state regulations.

Proceeds from the sale of state-owned shares after deducting shareholding costs and retraining will be supplemented to the Fund for Supporting Enterprise Restructuring and Shareholding of Vietnam Steel Corporation.

Article 2. Transform Workshop IV of Binh Tay Steel Wire Mesh Factory into Saigon Steel Wire Mesh Joint Stock Company from January 1, 2001,

- Name in Vietnamese: Saigon Steel Wire Mesh Joint Stock Company,

- English name: SAIGON STEEL WIRE NETTING STOCK COMPANY, abbreviated as: SWNS. Co,

- Head office located at: No. 176/26, Hoa Binh Street, Tan Binh District, Ho Chi Minh City.

Article 3. The company engages in the following business activities (at the time of conversion to a joint stock company):

1. Producing and trading various types of steel wire, steel mesh, steel nails, and barbed wire.

2. Engaging in other production and trading activities as stipulated by law.

Article 4. Saigon Steel Wire Mesh 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 legal provisions, operating in accordance with the Company's Charter and the Law on Enterprises.

Article 5. Vietnam Steel Corporation is responsible for directing South Vietnam Steel Company, Binh Tay Steel Wire Mesh Factory, and Workshop IV to organize the Founding Shareholders' Meeting (electing the Board of Directors, Supervisory Board, and adopting the Company's Charter).

The Director and Chief Accountant of South Vietnam Steel Company, Binh Tay Steel Wire Mesh Factory are responsible for managing the operations of Workshop IV until the handover to the Board of Directors and General Manager of Saigon Steel Wire Mesh Joint Stock Company.

Article 6. This Decision takes effect fifteen days from the date of signature. Abolish previous Decisions that conflict with this Decision.

The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors, the General Director of Vietnam Steel Corporation, the Director of South Vietnam Steel Company, Binh Tay Steel Wire Mesh Factory, and the Chairman of the Board of Directors, the General Manager of Saigon Steel Wire Mesh Joint Stock Company are responsible for implementing this Decision.