Lenovo 2015 Annual Report Download - page 134

132 Lenovo Group Limited 2014/15 Annual Report
DIRECTORS’ REPORT
SUBSTANTIAL SHAREHOLDERS’ AND OTHER PERSONS’ INTERESTS
As at March 31, 2015, the following persons (other than the directors and chief executive of the Company as disclosed above) had
an interests or short positions in the shares and/or underlying shares of the Company as recorded in the register required to be
kept under section 336 of the SFO:
Capacity and number of
shares/underlying shares held
Name
Long position/
short position
Beneficial
owner
Corporate
interests
Aggregate
long and short
positions
Approximate
percentage of
interests
(Note 1)
Legend Holdings Corporation Long position 2,867,636,724 532,519,317
(Note 2)
3,400,156,041 30.60%
Short position –89,900,000 89,900,000
(Note 3)
0.80%
Sureinvest Holdings Limited Long position 606,804,000 –606,804,000
(Note 4)
5.46%
Notes:
1. 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 336 of the SFO.
2. Out of 532,519,317 shares, 477,819,317 shares are directly held by Right Lane Limited (“Right Lane”), a direct wholly-owned subsidiary of
Legend Holdings Corporation, and 54,700,000 shares are indirectly held by Right Lane through its wholly-owned subsidiary, Legion Elite
Limited.
3. These shares are held by Right Lane.
4. Mr. Yang Yuanqing holds more than one-third of the voting power at general meetings of Sureinvest Holdings Limited (“SHL”). Accordingly,
Mr. Yang is deemed to have interests in those 606,804,000 shares of the Company held by SHL under the SFO. This interest is also included
as corporate interests of Mr. Yang in the above section headed “Directors’ Interests”.
Save as disclosed above, as at March 31, 2015, no other persons (other than the directors and chief executive of the Company,
whose interests are set out in the above section headed “Directors’ Interests”) had any interests or short positions in the shares or
underlying shares of the Company as recorded in the register required to be kept by the Company under section 336 of the SFO.
RETIREMENT SCHEME ARRANGEMENTS
The Company contributes toward retirement income protection for its employees through the provision of defined benefit pension
plans, defined contribution plans, and/or contributions to various public retirement schemes in certain jurisdictions. These benefits
form an important part of the Company’s total compensation and benefits program that is designed to attract and retain highly
skilled and talented employees.
Defined Benefit Pensions Plans
Chinese Mainland – Retirement Schemes
The Group participates in respective local municipal government retirement schemes in the mainland of China (“Chinese Mainland”)
whereby it is required to make an annual contribution of no more than 20% of three times the monthly average salaries as
set out by the local municipal government each year. The local municipal governments undertake to assume the retirement
benefit obligations of all retirees of the qualified employees in the Chinese Mainland. In July 2006, the Group has established
a supplemental retirement program for its employees in Chinese Mainland. This is a defined contribution plan, with voluntary
employee participation.
In addition to the above, the Group has defined benefit and/or defined contribution plans that cover substantially all regular
employees, and supplemental retirement plans that cover certain executives. Information on the principal pension plans sponsored
by the Group is summarized in this section.
United States of America (“US”) – Lenovo Pension Plan
The Company provides U.S. regular, full-time and part-time employees who were employed by IBM prior to being hired by the
Company and who were members of the IBM Personal Pension Plan (“PPP”) with non-contributory defined benefit pension benefits
via the Lenovo Pension Plan. The plan is frozen to new entrants.