Decision No. 85/2004/QĐ-BCN of the Ministry of Industry on converting the Da Nang Steel Structure Manufacturing Plant into the Da Nang Steel Structure Manufacturing Joint Stock Company, stipulates the charter capital structure, employee benefits, and business sectors of the new company.
Key points
- Electricity Construction Corporation No. 3 → shall convert the Da Nang Steel Structure Manufacturing Plant into a joint stock company with a charter capital of 10 billion VND, of which the State holds 55%, employees in the plant hold 35.34%, and the remaining 9.66% is sold to external parties.
- Employees → shall be given preferential rights to purchase 12,806 shares at a preferential price of 384,180 VND/share
- Electricity Construction Corporation No. 3 → must organize public share auctions and convene the first General Shareholders' Meeting according to current regulations
- The Da Nang Steel Structure Manufacturing Joint Stock Company → shall engage in businesses such as steel structure design and manufacturing, electrical construction works, cargo transportation, import and export of materials, and real estate development
- Electricity Construction Corporation No. 3 → shall be responsible for managing the Plant until the transfer of all capital, assets, and labor to the Board of Directors and General Director of the Da Nang Steel Structure Manufacturing Joint Stock Company
🌐 Social impact of this document
- Creating opportunities for employees to purchase preferred shares, contributing to improving income
- Enhancing the efficiency of state capital through the corporatization of state-owned enterprises
- Promoting local economic development through the production and business activities of the new company
❓ Frequently asked questions
What is the charter capital of the Da Nang Steel Structure Manufacturing Joint Stock Company?
The charter capital of the joint stock company is 10,000,000,000 VND (Ten billion VND).
What is the percentage of shares held by the State and employees in the plant?
The State's shareholding ratio is 55.00%, while employees in the plant hold 35.34%.
How many shares are employees entitled to purchase at a preferential rate?
A total of 12,806 preferential shares were sold to 293 employees in the Plant.
What actions must Electricity Construction Corporation No. 3 undertake following the implementation of this decision?
Electricity Construction Corporation No. 3 must organize public share auctions and convene the first General Shareholders' Meeting of the Da Nang Steel Structure Manufacturing Joint Stock Company according to current regulations.
At what preferential value can employees purchase shares?
The preferential value for each share is 384,180 VND.
Full text
DECISION
Regarding the conversion of Da Nang Steel Structure Manufacturing Plant into Da Nang Steel Structure Manufacturing Joint Stock Company
Conversion of Da Nang Steel Structure Manufacturing Plant into Da Nang Steel Structure Manufacturing Joint Stock Company
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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;
Considering the proposal of Construction Installation Corporation 3 (Document No. 02240 CV/XLĐ3-TCNS&ĐT dated August 20, 2004), the plan for the conversion of Da Nang Steel Structure Manufacturing Plant into a joint stock company, and the review report of the Enterprise Reform and Development Board of the Ministry dated August 31, 2004;
At the proposal of the Enterprise Reform and Development Board and the Director of the Personnel and Organization Department,
DECISION:
Article 1. Approving the plan for the conversion of Da Nang Steel Structure Manufacturing Plant under Construction Installation Corporation 3, which includes the following main points:
The charter capital of the joint stock company is 10,000,000,000 VND (Ten billion VND).
State shareholding ratio: 55.00%;
Shareholding ratio sold to employees within the plant: 35.34%;
Shareholding ratio sold outside the plant: 9.66%.
Value of one share: 100,000 VND.
2. The actual value of Da Nang Steel Structure Manufacturing Plant at the time of January 1, 2004 for the purpose of conversion (Decision No. 2051/QĐ-TCKT dated August 6, 2004 of the Ministry of Industry) is 58,403,185,456 VND. Among this, the actual value of the state capital in the plant is 5,118,038,602 VND.
3. Employee benefits.
The total number of preferential shares sold to 293 employees within the plant is 12,806 shares with a preferential value of 384,180 VND.
4. The value of preferential shares (for the poor) paid in installments: 38,780,000 VND.
5. Regarding the costs of conversion and the resolution of surplus labor at the plant, Construction Installation Corporation 3 will process and report to the Ministry of Industry and relevant state authorities for approval according to current regulations.
Article 2. Converting Da Nang Steel Structure Manufacturing Plant into Da Nang Steel Structure Manufacturing Joint Stock Company,
- English name: DANANG STEEL STRUCTURE MANUFACTURE JOINT-STOCK COMPANY, Abbreviation: SSM;
- Main office located at: Hoa Khanh Industrial Zone, Lien Chieu District, Da Nang City.
Article 3. The joint stock company engages in the following business activities:
- Designing, manufacturing steel structures, steel columns, prefabricated building frames, and other mechanical products;
- Zinc coating of mechanical products and zinc coating services;
- Installation of power grid systems and transformer substations up to 500 kV, power generation projects, industrial, civil, transportation, and water conservancy projects;
- Cargo transportation services;
- Trading in import and export of electrical materials and equipment, construction materials, transport equipment, construction motorcycles;
- Developing urban housing and technical infrastructure, industrial zones, export processing zones, high-tech zones, new economic zones, and real estate services;
- Engaging in other businesses in accordance with the provisions of the law.
Article 4. Da Nang Steel Structure Manufacturing Joint Stock Company is a legal entity under Vietnamese law from the date of registration for business operations, independently accounting for its economy, using its own seal, opening bank accounts according to the law, and operating according to the Company's Charter and the Law on Enterprises.
Da Nang Steel Structure Manufacturing Joint Stock Company is a subsidiary in the pilot model of parent company - subsidiary of Construction Installation Corporation 3.
Article 5. Construction Installation Corporation 3 shall organize the public auction of shares outside the company and convene the first General Meeting of Shareholders of Da Nang Steel Structure Manufacturing Joint Stock Company in accordance with current regulations.
The General Director and Chief Accountant of Construction Installation Corporation 3 are responsible for managing the operations of Da Nang Steel Structure Manufacturing Plant until the transfer of all capital, assets, and labor to the Board of Directors and General Director of the joint stock company.
Article 6. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
The Head of the Ministry's Office, the Inspector General of the Ministry, the Heads of Departments and Bureaus under the Ministry, the General Director of Construction Installation Corporation 3, the Director of Da Nang Steel Structure Manufacturing Plant, the Board of Directors and General Director of Da Nang Steel Structure Manufacturing Joint Stock Company are responsible for implementing this Decision./.
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DEPUTY MINISTER OF INDUSTRY
DEPUTY MINISTER
(Signed)
Nguyen Xuan Thuy
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