Decision No. 86/2004/QĐ-BCN on converting Company 3.10 Electrical Installation to Joint Stock Company 3.10 Electrical Installation

DECISION OF THE MINISTER OF INDUSTRY

Regarding the conversion of Company 3.10 Construction Installation to Joint Stock Company 3.10 Construction Installation

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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 Company 3 Construction Installation (Document No. 02239 CV/XLĐ3-TCNS&ĐT dated August 20, 2004), the privatization plan for Company 3.10 Construction Installation, and the appraisal 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. Approves the privatization plan for Company 3.10 Construction Installation under Company 3 Construction Installation, which includes the following main points:

1. Capital structure:

The charter capital of the joint stock company is 5,000,000,000 VND (Five billion VND).

State shareholding ratio: 30.00%;

Shareholding ratio sold to employees within the company: 59.09%;

Shareholding ratio sold outside the company: 10.91%. The value of one share: 100,000 VND.

2. The actual value of Company 3.10 Construction Installation at the time of January 1, 2004 for privatization (Decision No. 2052/QĐ-TCKT dated August 6, 2004 of the Ministry of Industry) is 13,052,769,297 VND. Among this, the actual value of the state capital in the company is 3,296,351,082 VND.

3. Preferential treatment for employees of the Company.

The total number of preferential shares sold to 155 employees in the company is 19,545 shares with a preferential value of 586,350,000 VND.

4. The value of preferential shares (for the poor) to be paid later: 140,000,000 VND.

5. Regarding the privatization costs and the resolution of surplus labor in the company, Company 3 Construction Installation will process and report to the Ministry of Industry and relevant state authorities for approval according to current regulations.

Article 2. Convert Company 3.10 Construction Installation to Joint Stock Company 3.10 Construction Installation,

English name: POWER CONSTRUCTION JOINT-STOCK COMPANY 3.10,

Abbreviation: PCC3.10;

Main office located at Tran Quang Dieu Ward, Quy Nhon City, Binh Dinh Province.

Article 3. The joint stock company engages in the following business activities:

Constructing power grid and substation projects up to 500 kV, power source projects, industrial, residential, transportation, and water conservancy projects;

Designing, manufacturing steel structures, mechanical products, zinc-plated products; producing various types of electrical materials, equipment, accessories, prestressed concrete poles, and other concrete products;

Trading construction materials, interior and exterior decoration items; transporting goods;

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. Joint Stock Company 3.10 Construction Installation shall be a legal entity under Vietnamese law from the date of registration for business, operate independently economically, use its own seal, open bank accounts in accordance with the law, and operate according to the Company's Articles of Association and the Law on Enterprises.

Article 5. Company 3 Construction Installation shall organize the auction of shares to external parties and convene the first General Meeting of Shareholders of Joint Stock Company 3.10 Construction Installation in accordance with current regulations.

The General Director and Chief Accountant of Company 3 Construction Installation are responsible for managing the operations of Company 3.10 Construction Installation until the transfer of all capital, assets, and labor to the Board of Directors and General Manager 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 Company 3 Construction Installation, the General Manager of Company 3.10 Construction Installation, the Board of Directors and General Manager of Joint Stock Company 3.10 Construction Installation are responsible for implementing this Decision./.