Decision No. 82/2000/QĐ-TTg On the transfer of the Thien Huong Food Company under the Ministry of Industry to a Joint Stock Company

 Pursuant to …;

Regarding the conversion of the Food Heavenly Fragrance Company under the Ministry of Industry into a Joint Stock Company
Approving the plan for the shareholding reform of the state-owned enterprise, the Food Heavenly Fragrance Company, as proposed in Circular No. 2461/CV-TCKT dated June 27, 2000, of the Minister of Industry:

THE 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;

At the proposal of the Minister of Industry,

DECISION:

Article 1. 1. The charter capital of the Joint Stock Company: twenty billion dong,

- The proportion of shares sold to entities outside the enterprise: thirty percent of the charter capital.

Wherein:

- Shareholding ratio sold to employees within the enterprise: 70% of the charter capital.

2. The actual value of the Food Heavenly Fragrance Company at the time of October 1, 1999, for shareholding reform is one hundred six billion nine hundred ninety-three million five hundred twenty-one thousand six hundred seventy-five dong; of which the actual value of the state capital in the enterprise is nineteen billion nine hundred seventy-two million nine hundred forty-three thousand three hundred ninety-five dong.

The total number of shares sold at a preferential price to employees within the enterprise is one hundred fifteen thousand nine hundred forty shares; the preferential value amounting to three billion four hundred seventy-eight million dong.

3. Employee benefits:

Of which, the number of preferential shares sold to poor employees within the enterprise to be repaid gradually is eight thousand seven hundred shares, corresponding to six hundred nine million dong.

The use of proceeds from the sale of shares and tax preferences shall be implemented according to current regulations.

Converting the state-owned enterprise, the Food Heavenly Fragrance Company under the Ministry of Industry, into a Joint Stock Company:

Article 2. - Full name in Vietnamese: Food Heavenly Fragrance Joint Stock Company.

- International trade name: thien huong food joint stock company

- Abbreviation: TFC.

- Head office: Tan Thoi Hiep Commune, District 12, Ho Chi Minh City.

The Food Heavenly Fragrance Joint Stock Company engages in production and business activities in the following sectors:

Article 3. - Production and trading of processed food products.

- Direct import and export of raw materials and finished products.

- Entrusted import and export trading.

The Food Heavenly Fragrance Joint Stock Company:

Article 4. - Is a legal entity under Vietnamese law from the date of issuance of its business registration certificate, operating according to the registered permit, implementing independent economic accounting, having its own seal, and being allowed to open a bank account in accordance with the law. Operating in accordance with the Articles of Association of the Joint Stock Company and the Enterprise Law;

- The General Director and Chief Accountant of the Food Heavenly Fragrance Company are responsible for managing and operating the enterprise until the handover of the entire enterprise to the Board of Directors and General Director of the Food Heavenly Fragrance Joint Stock Company.

This Decision takes effect from the date of signature. Decisions contrary to this Decision are abolished. The Minister of Industry, the General Director of the Food Heavenly Fragrance Company, and the Board of Directors of the Food Heavenly Fragrance Joint Stock Company are responsible for implementing this Decision.

Article 5. - Ministries: Finance, Planning and Investment,