Lenovo 2008 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2008 Lenovo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

DIRECTORS’ REPORT (CONTINUED)
Directors’ rights to acquire shares or debentures (continued)
Share Option Schemes (continued)
3. Outstanding options
Particulars of the outstanding options are as follows:
Options
held at
April 1,
2007
Options
granted
during
the year
Options
exercised
during
the year
Options
cancelled/
lapsed
during
the year
Options
held at
March 31,
2008
Exercise
price Grant date Exercise period
HK$ (MM.DD.YYYY) (MM.DD.YYYY)
Old Option Scheme
Directors
Mr. Yang Yuanqing 6,000,000 – – – 6,000,000 4.072 04.16.20 01 04.16.2001 to 04.15.2011
2,250,000 –––2,250,000 2.876 08.31.2001 08.31.2001 to 08.30.2011
Ms. Ma Xuezheng 2,920,000 – – – 2,920,000 4.072 04.16.20 01 04.16.2001 to 04.15.2011
1,600,000 –––1,600,000 2.876 08.31.2001 08.31.2001 to 08.30.2011
Mr. Liu Chuanzhi 2,250,000 – – – 2,250,000 2.876 08.31.2001 08.31.2001 to 08.30.2011
Continuous contract
employees
7,712,000 –1,016,000 –6,696,000 4.038 01.28.2000 01.28.2000 to 01.27.2010
74,480,000 –19,468,000 –55,012,000 4.312 01.15.2001 01.15.2001 to 01.14.2011
26,630,000 –4,728,000 –21,902,000 4.072 04.16.20 01 04.16.2001 to 04.15.2011
832,000 – – – 832,000 2.904 08.29.2001 08.29.2001 to 08.28.2011
53,314,000 –14,998,000 –38,316,000 2.876 08.31.2001 08.31.2001 to 08.30.2011
New Option Scheme
Directors
Mr. Yang Yuanqing 3,000,000 – – – 3,000,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
Ms. Ma Xuezheng 1,600,000 – – – 1,600,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
Mr. Liu Chuanzhi 3,000,000 – – – 3,000,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
Continuous contract
employees
13,188,000 –4,072,000 –9,116 ,0 0 0 2.435 10.10.2002 10.10.2002 to 10.09.2012
46,236,000 –12,780,000 –33,456,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
105,063,601 –25,696,550 –79,367,051 2.545 04.27.2004 04.27.2004 to 04.26.2014
7,520,000 –5,780,000 –1,740,000 2.170 07. 0 8 .2 0 0 4 07.08.2004 to 07.07.2014
Other participants 14,200,000 –1,838,000 –12,362,000 2.435 10.10.2002 10.10.2002 to 10.09.2012
1,600,000 –60,000 –1,540,000 2.245 04.26.2003 04.26.2003 to 04.25.2013
Notes:
1. Weighted average closing price of the listed ordinary shares of the Company immediately before the dates on which the options were
exercised by continuous contract employees under the Old Option Scheme was HK$5.086.
2. Weighted average closing price of the listed ordinary shares of the Company immediately before the dates on which the options were
exercised by continuous contract employees under the New Option Scheme was HK$5.305.
3. Weighted average closing price of the listed ordinary shares of the Company immediately before the dates on which the options were
exercised by other participants under the New Option Scheme was HK$5.381.
4. Valuation of share options
The share options granted are not recognized in the financial statements until they are exercised. The directors consider
that it is not appropriate to value the share options on the ground that certain crucial factors for such valuation are variables
which cannot be reasonably determined at this stage. Any valuation of the share options based on speculative assumptions
in respect of such variables would not be meaningful and the results thereof may be misleading to the shareholders. Thus, it
is more appropriate to disclose only the market price and exercise price.
Lenovo Group Limited • Annual Report 2007/08
54