HSBC 2004 Annual Report Download - page 204

HSBC HOLDINGS PLC
Report of the Directors (continued)
202
Bank of Bermuda
Share Option Plan 2000
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
18 February
2004
Options
exercised
during period1
Options
lapsed
during period
Options at
31 December
2004
11 Jan 2001 14.27 11 Jan 2002 11 Jan 2011 161,829 – – 161,829
6 Feb 2001 16.41 6 Feb 2002 6 Feb 2011 1,111,908 33,733 10,569 1,067,606
29 Mar 2001 15.39 29 Mar 2002 29 Mar 2011 540 – – 540
16 Apr 2001 15.57 16 Apr 2002 16 Apr 2011 539 – – 539
6 Jun 2001 18.35 6 Jun 2002 6 Jun 2011 8,091 – – 8,091
16 Jul 2001 16.87 16 Jul 2002 16 Jul 2011 245,610 20,979 – 224,631
28 Aug 2001 15.39 28 Aug 2002 28 Aug 2011 13,486 – – 13,486
26 Sep 2001 12.79 26 Sep 2002 26 Sep 2011 468,611 6,741 2,219 459,651
16 Jan 2002 16.11 16 Jan 2003 16 Jan 2012 3,678 – – 3,678
30 Jan 2002 15.60 30 Jan 2003 30 Jan 2012 1,226 – – 1,226
5 Feb 2002 16.09 5 Feb 2003 5 Feb 2012 1,483,066 54,204 7,711 1,421,151
5 Feb 2002 16.41 5 Feb 2003 5 Feb 2012 1,383 – – 1,383
10 Jul 2002 15.84 10 Jul 2003 10 Jul 2012 12,260 – – 12,260
9 Sep 2002 12.34 9 Sep 2003 9 Sep 2012 61,299 – – 61,299
16 Dec 2002 11.27 16 Dec 2003 16 Dec 2012 6,130 – – 6,130
4 Feb 2003 10.69 4 Feb 2004 4 Feb 2013 387,068 25,786 1,415 359,867
1 Apr 2003 11.97 1 Apr 2004 1 Apr 2013 28,541 – – 28,541
21 Apr 2003 11.85 21 Apr 2004 21 Apr 2013 48,853 – – 48,853
1The weighted average closing price of the shares immediately before the dates on which options were exercised was £8.90.
Bank of Bermuda
Directors’ Share Option Plan
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
18 February
2004
Options
exercised
during period
Options
lapsed
during period
Options at
31 December
2004
22 Sep 1999 8.02 22 Sep 2000 22 Sep 2009 7,706 – – 7,706
20 Sep 2000 11.31 20 Sep 2001 20 Sep 2010 9,440 – – 9,440
28 Mar 2001 15.76 28 Mar 2002 28 Mar 2011 18,205 – – 18,205
3 Apr 2002 16.01 3 Apr 2003 3 Apr 2012 34,328 – – 34,328
30 Apr 2003 12.23 30 Apr 2004 30 Apr 2013 9,808 – – 9,808
Valuation of freehold and leasehold
land and buildings
HSBC’ s freehold and long leasehold properties,
together with all leasehold properties in Hong Kong,
were revalued in September 2004 in accordance with
HSBC’ s policy of annual valuation. As a result of
this revaluation, the net book value of land and
buildings has increased by US$1,246 million.
Further details are included in Note 24 of the
‘Notes on the Financial Statements’ on page 275.
Corporate Governance Report
The information set out on pages 186 to 234 and
information incorporated by reference constitutes the
Corporate Governance Report of HSBC Holdings.
Board of Directors
The objectives of the management structures within
HSBC, headed by the Board of Directors of HSBC
Holdings and led by the Group Chairman, are to
deliver sustainable value to shareholders.
Implementation of the strategy set by the Board is
delegated to the Group Management Board under the
leadership of the Group Chief Executive.
The Board sets the strategy for HSBC through
the five-year strategic plan and approves the annual
operating plans presented by management for the
achievement of the strategic objectives. The annual
operating plans ensure the efficient disposition of
HSBC’s resources for the achievement of these
objectives. The Board delegates the management and
day to day running of HSBC to the Group
Management Board but retains to itself approval of
certain matters including annual plans and
performance targets, procedures for monitoring and