Lenovo 2015 Annual Report Download - page 132

130 Lenovo Group Limited 2014/15 Annual Report
DIRECTORS’ REPORT
DIRECTORS’ INTERESTS (continued)
Interests in the shares and underlying shares of the Company (continued)
Notes:
1. Share awards represent underlying shares convertible into ordinary shares. Details of share awards are set out under the section “Long-Term
Incentive Program”.
2. The approximate percentage of interests is based on the shares/underlying shares comprising the interests held as a percentage of the total
number of shares in issue of the Company of the same class immediately after the relevant event and as recorded in the register maintained
under section 352 of the SFO.
3. The shares are held by Sureinvest Holdings Limited in which Mr. Yang Yuanqing holds more than one-third of the voting power at its general
meetings. Therefore, Mr. Yang is taken to have an interest in 606,804,000 shares under the SFO and such interest is also reported under the
below section headed “Substantial Shareholders’ and Other Persons’ Interests”.
Save as disclosed above, as at March 31, 2015, none of the directors or chief executive of the Company or their associates had
any interests or short positions in the shares, underlying shares or debentures of the Company or its associated corporations (within
the meaning of Part XV of the SFO) as recorded in the register maintained by the Company under section 352 of the SFO or as
otherwise notified to the Company and the Stock Exchange pursuant to the Model Code.
DIRECTORS’ RIGHTS TO ACQUIRE SHARES OR DEBENTURES
Share Option Scheme
At an extraordinary general meeting of the Company held on March 25, 2002, the shareholders of the Company approved the
adoption of a new share option scheme (the “New Option Scheme”) and termination of the share option scheme that was adopted
on January 18, 1994.
Pursuant to the terms of New Option Scheme, the New Option Scheme shall be valid and effective for a period of 10 years
commencing on the adoption date and expiring on the tenth anniversary of the adoption date. Accordingly, the New Option
Scheme had been expired on April 26, 2012, and no further options could thereafter be granted under the New Option Scheme.
However, all remaining provisions will remain in full force and effect to govern the exercise of all the options granted under the New
Option Scheme prior to its expiration.
As at March 31, 2015, no share options were outstanding under the New Option Scheme.
1. New Option Scheme
(a) Purpose
The New Option Scheme became effective on April 26, 2002. It serves as a way of providing incentives to and attracting
qualified participants for better performance of the Group by allowing them to participate in increases in the value of the
Company.
(b) Qualified participants
1. (i) any employee or officer, executive or non-executive director (or persons proposed to be appointed as such)
of the Group;
(ii) any consultant, professional or other adviser to the Group;
(iii) any director, executive and senior officer of any associated company of the Company; and
(iv) the trustee of any trust pre-approved by the directors of which the beneficiary (or in case of discretionary
trust, the discretionary objects) include any of the above-mentioned persons; and
2. (i) any customer, supplier, agent, partner, distributor, professional or other advisers of, or consultants or
contractors to, the Group; and
(ii) the trustee of any trust pre-approved by the directors of which the beneficiary (or in case of discretionary
trust, the discretionary objects) include any of the above-mentioned persons.
(c) Maximum number of shares
The total number of shares which may be issued upon exercise of all share options to be granted under the New Option
Scheme and any other share option scheme(s) of the Company must not in aggregate exceed 10% of shares in issue on
the date of approval of the New Option Scheme. The maximum number of shares of the Company which may be issued
upon exercise of all outstanding share options granted and yet to be exercised under the New Option Scheme and any
share option scheme(s) of the Company must not exceed 30% of shares in issue from time to time.