Decision No. 82/2004/QĐ-BCN of the Ministry of Industry on the conversion of Secpentin Company and Thanh Hoa Chemicals into Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company, stipulates the charter capital structure, actual value of the company, benefits for employees, business sectors, and responsibilities of related parties.
Key points
- Secpentin Company and Thanh Hoa Chemicals are converted into Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company with a charter capital of 3,811,300,000 VND, of which 100% of shares are sold to employees.
- The actual value of the company at the time of shareholding reform is 14,240,736,712 VND, of which the state-owned capital value is 3,811,325,583 VND.
- The company sells preferential shares to 226 employees totaling 37,984 shares worth 1,139,520,000 VND, of which 7,414 shares are sold preferentially on credit to 52 poor employees.
- The company engages in businesses such as fertilizer production and trade, chemical products, mineral extraction and processing, oil trading, and other lawful business sectors.
- Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company is a legal entity under Vietnamese law from the date of registration for business operation.
🌐 Social impact of this document
- Employees will receive preferential shares, creating opportunities for shared ownership among employees.
- The company can enhance competitiveness and sustainable development through the transition to a joint stock company.
- Diversification of business sectors will expand market and business opportunities for the company.
❓ Frequently asked questions
What is the charter capital of the joint stock company?
The charter capital of the joint stock company is 3,811,300,000 VND.
How does the company sell preferential shares to employees?
The company sells preferential shares to 226 employees totaling 37,984 shares worth 1,139,520,000 VND.
Which employees receive preferential shares?
Among them, 7,414 shares are sold preferentially on credit to 52 poor employees.
What business sectors does the company operate in?
The company operates in fertilizer production and trade, chemical products, mineral extraction and processing, oil trading, and other lawful business sectors.
When does this decision take effect?
This decision takes effect fifteen days after its publication in the Official Gazette.
Full text
DECISION
Regarding the transformation of Secpentin Company and Thanh Hoa Chemicals Company into Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company
In accordance with the proposal of Vietnam Chemicals Corporation (Letter No. 912/CV-TCNS dated August 17, 2004), the privatization plan for Secpentin Company and Thanh Hoa Chemicals Company, and the appraisal report of the Enterprise Reform and Development Board on August 6, 2004;
_________________________
THE MINISTER OF INDUSTRY
Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry;
Pursuant to Decree No. 64/2002/NĐ-CP dated June 19, 2002 of the Government on the conversion of state-owned enterprises into joint-stock companies;
At the request of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department.
Approves the privatization plan for Secpentin Company and Thanh Hoa Chemicals Company (an independent accounting member enterprise of Vietnam Chemicals Corporation) including the following main points:
DECISION:
Article 1. The proportion of shares sold to employees of the company: 100%.
The charter capital of the joint stock company is VND 3,811,300,000 (three billion eight hundred eleven million three hundred thousand dong).
2. The actual value of Secpentin Company and Thanh Hoa Chemicals Company at the valuation date of December 31, 2003 for privatization (Decision No. 1779/QD-TCKT dated June 30, 2004 of the Ministry of Industry) is 14,240,736,712 VND. Of which, the actual value of the State capital portion in the company is 3,811,325,583 VND.
Value of one share: 100,000 VND.
3. The total number of preferential shares sold to 226 employees of the company is 37,984 shares with a preferential value of 1,139,520,000 VND. Among them, 5,200 preferential shares are sold on credit to 52 poor employees, valued at 518,980,000 VND.
4. Regarding privatization costs, retraining of employees, and surplus labor resolution, Secpentin Company and Thanh Hoa Chemicals Company shall handle procedures and report to Vietnam Chemicals Corporation and relevant state authorities for approval according to current regulations.
Transform Secpentin Company and Thanh Hoa Chemicals Company into Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company,
Article 2. International trade name: THANHHOA SECPENTIN AND FERTILIZER JOINT STOCK COMPANY;
Abbreviation: SEPCO;
Main office: Hoang Giang Commune, Nong Cong District, Thanh Hoa Province.
Production and trading of fertilizers and chemicals;
Article 3. The joint stock company engages in the following business activities:
Mining and processing of minerals;
Trading of petroleum products;
Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company shall be a legal entity under Vietnamese law from the date of business registration, conducting independent economic accounting, using its own seal, opening bank accounts in accordance with the law, operating in accordance with the Company's Charter and the Law on Enterprises.
Engaging in other businesses in accordance with the provisions of the law.
Article 4. Vietnam Chemicals Corporation is responsible for directing Secpentin Company and Thanh Hoa Chemicals Company to sell shares and organize the first General Meeting of Shareholders of Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company in accordance with current regulations.
Article 5. The Director and Chief Accountant of Secpentin Company and Thanh Hoa Chemicals Company are responsible for managing the operations of the company until the transfer of all capital, assets, employees, and land to the Board of Directors and General Manager of the joint stock company.
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, and the General Director of Vietnam Chemicals Corporation, the Director of Secpentin Company and Thanh Hoa Chemicals Company, and the Chairman of the Board of Directors and the General Director of Secpentin Joint Stock Company and Thanh Hoa Fertilizer Company are responsible for implementing this Decision./.
Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
The Director of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments, the Directors of Bureaus under the Ministry, the Chairman of the Board of Directors, and the General Director of Vietnam Chemicals Corporation, the Directors of Secpentin and Thanh Hoa Chemical Company, and the Chairman of the Board of Directors and the Director of Secpentin and Thanh Hoa Fertilizer Joint Stock Company are responsible for implementing this Decision./.
DEPUTY MINISTER
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