Article 120. Ordinary shares of founding shareholders

1. A new joint stock company shall have at least 03 founding shareholders. A joint stock company converted from a state-owned enterprise or limited liability company or after division, consolidation, acquisition of another joint stock company is not required to have founding shareholders. Instead, the company’s charter in the enterprise registration application shall contain signatures of the company’s legal representatives or ordinary shareholders.

2. The founding shareholders shall subscribe for at least 20% of the total authorized ordinary shares upon enterprise registration.

3. Within 03 years from the issuance date of the Certificate of Enterprise Registration, the ordinary shares of founding shareholders may be transferred to other founding shareholders and may only be transferred to a person that is not a founding shareholder if the transfer is accepted by the GMS. In this case, the transferor does not have the right to vote on this transfer.

4. The limitations specified in Clause 3 of this Article do not apply to the following ordinary shares:

a) Additional shares acquired by founding shareholders after the enterprise is registered;

b) Shares that have been transferred to other persons that are not founding shareholders.

Article 121. Share certificate

1. A share certificate is a certificate issued by a joint stock company, a book entry or electronic data that certifies the ownership of one or a number of shares of the company. A share certificate shall contain the following information:

a) The company’s name, EID number, headquarter address;

b) Quantity and type of shares;

c) The face value of each share and total face value of the number of shares written therein;

d) Full name, signature, mailing address, nationality and legal document number if the shareholder is an individual; names, EID numbers or legal document number and headquarters address if the shareholder is an organization;

dd) Signatures of the company’s legal representatives;

e) Registration number on the company’s shareholder register and issuance date of the share certificate;

g) Other information specified in Articles 116, 117 and 118 of this Law for certificates of preference shares.

2. Errors in a share certificate do not affect rights and interests of its holder. The company’s legal representative shall be responsible for the damage caused by such errors.

3. In case a share certificate is lost or damaged, it will be reissued at the request of its holder. The request shall contain:

a) Information about the lost or damaged certificate;

b) The commitment to take responsibility for disputes caused by its reissuance.