Lenovo 2011 Annual Report Download - page 41

2010/11 Annual Report Lenovo Group Limited
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CORPORATE GOVERNANCE
Furthermore, Internal Audit are responsible for
investigating any allegations of potential violations of
Lenovo’s Code of Conduct or the Anti-Bribery and Anti-
Corruption Policy. Internal Audit partners with Legal,
Human Resources, and subject matter experts where
necessary to ensure the appropriate expertise when
performing these investigations. The management of
the business units, the process owners and the Audit
Committee are informed of any required actions resulting
from these reviews, and Internal Audit monitors the
corrective actions to completion.
Regarding procedures and internal controls for
the handling and dissemination of price-sensitive
information, the Company is aware of its obligations
under the Listing Rules and the overriding principle
that information which is expected to be price-sensitive
should be announced immediately it is the subject
of a decision. The Company conducts its affairs with
close regard to the applicable laws and regulations
prevailing in Hong Kong and has implemented policies
and procedures which strictly prohibit unauthorized
use of confidential and sensitive information, and has
communicated to all relevant staff regarding this matter.
The Board, through the Audit Committee of the
Company, conducts a continuous review of the
effectiveness of the internal control system operating in
the Company and considers it is adequate and effective.
The review covers all material controls, including
financial, operational and compliance controls, and
risk management functions. The Board is not aware of
any significant areas of concern which may affect the
shareholders. The Board is satisfied that the Company
has fully complied with the code provisions on internal
controls as set forth in the CG Code.
COMMUNICATION WITH SHAREHOLDERS
The Company is committed to safeguard shareholders’
interests and encourage shareholders to attend the
annual general meetings for which sufficient notices
will be given. Shareholders are therefore encouraged
to actively participate at such meetings. The 2010
Annual General Meeting of the Company held on July
30, 2010 was attended by, among others, CEO, Chief
Financial Officer, Chairman of the Audit Committee and
representatives of independent professional consultant
Towers Watson and external auditor PwC to answer
questions raised by shareholders at the meeting.
Resolutions passed at the 2010 Annual General Meeting
included: adoption of the Group’s audited accounts
for the year ended March 31, 2010 together with the
directors’ report and independent auditor’s report, re-
election of retiring directors and authorization to fix
directors’ fees for the year ended March 31, 2011, re-
appointment of external auditor and authorization to
fix auditor’s fee and grant of general mandates to the
Board to issue and repurchase shares of the Company.
All the resolutions proposed at the 2010 Annual General
Meeting were decided by way of poll voting. The poll
was conducted by Tricor Abacus Limited, the Company’s
share registrar, as scrutineer and the results of the poll
were published on the Company’s website (www.lenovo.
com/hk/publication) and the Exchange’s website (www.
hkex.com.hk).
INVESTOR RELATIONS
Lenovo establishes an investor relations team to
promote open, transparent, efficient and consistent
communications with shareholders, investors and equity
analysts. The team commits to proactively providing
the investment community all necessary information,
data and services in a timely manner, in order to help
participants in the investment community to better
understand the Company’s strategy, operations and new
development.
During the fiscal year 2010/11, the Company’s
senior management team presented its annual and
quarterly earnings results in Hong Kong, New York,
Beijing and San Francisco. Through various investor
relations activities such as analyst briefings, webcasts,
conference calls and global investor roadshows, the
senior management team presented and communicated
with investors and analysts on the Company’s
strategy and development. The Company hosted
an investor reverse roadshow in Beijing for global
institutional investors in September 2010 and the
senior management team presented Lenovo’s most
updated strategies and development plans. Site visits
were also arranged to Lenovo’s innovation center and
manufacturing plant for the participants. The Company
continued to organize an annual analyst roundtable
to enhance equity analysts’ in-depth understanding
in its specific business segment. In December 2010,