The milestones of the key tasks are listed as follows:
1. The valuation of the enterprise
On March 27, 2018, Power Generation Corporation No. 1 (EVNGENCO1) submitted to EVN the results of valuation of the enterprise at 0h of 01/01/2018.
On March 29, 1818, Electricity of Vietnam (EVN) had feedback on this issue, according to which Corporation 1 has requested the joint venture consultant implementation, sent back EVN to continue to verify.
2. The Plan for equitization of EVNGENCO1
Pursuant to the Decree No. 126/2017/ND-CP dated 16/11/2017 of the Government, EVNGENCO1 submitted EVN to amend the Equitisation Plan of the Parent Company - General Electric Corporation 1 on March 27, 2018,
3. The Plan on arrangement and handling of using real estate
On March 23, 2018, EVNGENCO1 reported to EVN on the situation of arranging and handling real estate of the Corporation.
On March 29, EVN issued a written report to the Ministry of Industry and Trade on the arrangement and treatment of real estate for equitization of EVNGENCO1.
4. The Plan on employment
- Calculation of the number of shares which the employees of the Corporation will purchase at preferential prices
On March 28, 2018, the Corporation has issued the Official Letter on the registration of shares for employees to disseminate and guide organizations and individuals in the Corporation on the employees’ interests and registration of buying preferrential shares (according to the attached form, application). The employees are entitled to register to purchase preferential shares according to working seniority and according to the number of years of commitment to work at the Corporation.
- On the plan for employment in the Corporation
The Corporation considered rebalancing the output plan because the planned average labors have implemented the target as the estimated plan by EVN. At the same time EVNGENCO1 continues to solve the redundant employees at the members (if any).
5. The business plan on equitization:
Up to March 30, 2018, EVNGENCO1 has provided additional information and documents for the Consultant to build the business plan when the equitization is carried out.
6. The Charter on Joint Stock Company of EVNGENCO1
Under the EVN’s direction, the Draft Charter of a Power Generation Corporation JSC 1 is expected to submit before July 31, 2018.
7. The divestiture at joint-stock companies
In 2017, EVN has instructed to suspend the divestiture. However, on March 12, 2018, EVN issued a letter on the implementation of divestiture under the Decree No. 32/2018/ND-CP, EVN directed EVNGENCO1 to drastically implement the plan and progress of divestiture as approved. EVNGENCO1 is in progress of execution accordingly.
8. Consolidation of personnel for the Equitilization Assistant Team according to the Decree 126/2017/ND-CP
On March 28, 2018, the Ministry of Industry and Trade issued the Decision No. 996/QD-BCT to set up the Steering Committee of the Parent Company – EVNGENCO1.
9. The content of public relations
EVNGENCO1 has drafted a communication plan on equitization of the Corporation, set up a working group on propagandizing equitization and on the disclosure of equitization information of the Corporation on the mass media.