Decision No. 5151/QD-BCT dated October 07, 2011 of the Ministry of Industry and Trade on the equitization of Parent Company – Vietnam National Textile and Garment Group

THE MINISTRY OF INDUSTRY AND TRADE

Decision No. 5151/QD-BCT dated October 07, 2011 of the Ministry of Industry and Trade on the equitization of Parent Company – Vietnam National Textile and Garment Group

THE MINISTER OF INDUSTRY AND TRADE

Pursuant to the Decree No. 189/2007/ND-CP dated December 27, 2007 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade;

Pursuant to the Decree No. 44/2011/ND-CP dated June 14, 2011 of the Government amending, supplementing Article 3 of the Decree No. 189/2007/ND-CP dated December 07, 2007 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade;

Pursuant to the Decree No. 59/2011/ND-CP dated July 18, 2011 of the Government on transformation of enterprises with 100% state capital into joint-stock companies;

On the implementation of the Deputy Prime Minister, Mr. Vu Van Ninh on the equitization of  Parent Company – Vietnam National Textile and Garment Group (Official Dispatch No. 6524/VPCP-DMDN dated September 20, 2011 of the Government Office);

At the proposal of Vietnam National Textile and Garment Group at the Official Dispatch No. 813/TDDMVN-QLNNL dated October 05, 2011 on the equitization of the Group;

At the proposal of the Manager of Organization and Personnel Department,

DECIDES:

Article 1. To equitize Parent Company - Vietnam National Textile and Garment Group in the form of saving current state capital at the Group and issuing more shares to increase charter capital, and the State will hold ruling shares.

Time for defining enterprise value to equitize is 0 hour dated January 01, 2012.

Article 2. The Member Council of Vietnam National Textile and Garment Group shall be responsible for coordinate with Board of Business Reform and Development – the Ministry of Industry and Trade to establish Vietnam National Textile and Garment Group’s Equitization Steering Board.

Vietnam National Textile and Garment Group’s Equitization Steering Board shall take prime responsibilities in directing the implementation of necessary works in equitizing the Group in accordance with current regulations, reporting to the Ministry of Industry and Trade, relevant authorized agencies, the Prime Minister for considering and approving.

Article 3. This Decision takes effect on the signing date.

The Chief of Industry and Trade Ministry Secretariat, the Chief of Inspection, Managers of Departments: Organization and Personnel Department, Light Industry Department, Planning Department, Legal Department, Vietnam National Textile and Garment Group’s Equitization Steering Board, Member Council and General Director of Vietnam National Textile and Garment Group shall implement this Decision./.

For the Minister

Deputy Minister

HO THI KIM HOA