Lenovo 2008 Annual Report Download - page 131

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30 Share capital (continued)
(b) Share options
Under the Company’s employee share option scheme adopted on January 18, 1994 (“Old Option Scheme”), the Company
granted options to employees (including directors) of the Company or its subsidiaries to subscribe for ordinary shares in
the Company, subject to a maximum of 10 percent of the issued share capital of the Company from time to time. Options
granted are exercisable at any time during a period of ten years from the date upon which the option is accepted. The
subscription price of the option shares is the higher of the nominal value of the ordinary shares and an amount which is
80 percent of the average of the closing prices of the listed ordinary shares on the five trading days immediately preceding
the date on which the offer is made. The Old Option Scheme was terminated on April 26, 2002. Despite the fact that no
further options may be granted thereunder, all other provisions of the Old Option Scheme will remain in force to govern
the exercise of all the options previously granted.
On March 25, 2002, an ordinary resolution approving the adoption of a new share option scheme (“New Option Scheme”)
was passed by shareholders at an extraordinary general meeting of the Company.
Under the New Option Scheme, the Company may grant options to qualified participants as defined in the New Option
Scheme to subscribe for ordinary shares in the Company, subject to a maximum of 10 percent of the issued share
capital of the Company as at the date of adoption of the New Option Scheme. Options granted are exercisable at any
time during a period of ten years from the date upon which the option is accepted. The subscription price of the option
shares is the highest of the closing price of the listed ordinary shares on the date of grant; the average of the closing
prices of the listed ordinary shares for the five trading days immediately preceding the date of grant; and the nominal
value of the ordinary shares.
2008 2007
Number of
outstanding
share options
Number of
outstanding
share options
At the beginning of the year 373,395,601 404,846,000
Exercised during the year (ii) (90,436,550) (31,450,399)
At the end of the year (iii) 282,959,051 373,395,601
(i) No share options were granted, lapsed or cancelled by the Company during the years ended March 31, 2007 and
2008.
(ii) Details of share options exercised during the year are as follows:
Year ended March 31, 2008
Exercise date
Exercise
price
Market value
per ordinary
share at
exercise date
Number
of share
options
exercised
Gross
proceeds
received
(MM.DD.YYYY) HK$ HK$ HK$
06.18.2007 to 06.25.2007 2.170 4.87-4.93 1,302,000 2,825,340
07.03.2007 to 07.31.2007 2.170 4.71-5.26 1,428,000 3,098,760
08.07.2007 to 08.27.2007 2.170 4.91-5.26 850,000 1,844,500
09.04.2007 to 09.25.2007 2.170 5.16-5.47 1,034,000 2,243,780
10.08.2007 to 10.30.2007 2.170 6.67-8.04 900,000 1,953,000
11.05. 20 07 to 11.06.20 07 2.170 8.26-8.73 266,000 5 77, 2 2 0
04.02.2007 to 04.30.2007 2.245 2.82-3.15 264,000 592,680
05.08.2007 to 05.29.2007 2.245 3.13-3.99 2,062,000 4,629,190
06.04.2007 to 06.26.2007 2.245 4.08-4.62 3,968,000 8,908,160
07.03.2007 to 07.31.2007 2.245 4.71-5.26 664,000 1,490,680
08.06.2007 to 08.28.2007 2.245 4.84-5.13 440,000 9 87, 8 0 0
09.03.2007 to 09.25.2007 2.245 5.14-5.47 1,908,000 4,283,460
10.08.2007 to 10.30.2007 2.245 6.67-8.04 1,036,000 2,325,820
11.05.2007 to 11.27.2007 2.245 6.58-8.26 1,314,000 2,949,930
12.04.2007 to 12.24.2007 2.245 6 . 8 4 -7.17 440,000 9 8 7, 8 0 0
01.07.2008 to 01.08.2008 2.245 6.56-6.90 168,000 37 7,16 0
02.04.2008 to 02.25.2008 2.245 5.25-5.60 174,0 0 0 390,630
03.03.2008 to 03.31.2008 2.245 5.00-5.41 402,000 902,490
04.17.2007 to 04.30.2007 2.435 2.77-3.12 124,000 301,940
05.08.2007 to 05.29.2007 2.435 3.09-3.95 1,032,000 2,512,920
06.04.2007 to 06.26.2007 2.435 4.08-4.62 1,344,000 3,272,640
07.10.2007 to 07.31.2007 2.435 4.49-5.26 332,000 808,420
08.06.2007 to 08.28.2007 2.435 4.84-5.13 442,000 1,076,270
Lenovo Group Limited • Annual Report 2007/08 129