HSBC 2002 Annual Report Download - page 163

161
Netvalor
shares of €415 each
Date of award
Exercise
price(€)
Exercisable
from
Exercisable
until
Options at
1 January
2002
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
2002
22 Dec 1999 415 22 Dec 2004 22 Dec 2006 2,410 ––2,410
19 Dec 2000 415 19 Dec 2005 19 Dec 2007 3,480 –140 3,340
Sinopia Asset Management
shares of €0.5 each
Date of award
Exercise
price(€)
Exercisable
from
Exercisable
until
Options at
1 January
2002
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
20021
24 Jun 1997 6.13 24 Jun 2002 24 Dec 2002 91,200 91,200 ––
18 Mar 1998 8.61 18 Mar 2003 18 Sep 2003 94,400 ––94,400
22 Mar 1999 21.85 22 Mar 2004 22 Sep 2004 81,000 –2,000 79,000
15 Oct 1999 18.80 15 Oct 2004 15 Apr 2005 45,000 ––45,000
18 Feb 2000 18.66 18 Feb 2005 18 Aug 2005 120,500 –23,000 97,500
1 On exercise of the options, the Sinopia shares will be exchanged for HSBC Holdings ordinary shares of US$0.50 each in the ratio of 2.143 HSBC
Holdings shares for each Sinopia share. At 31 December 2002 HSBC General Trust Employee Benefit Trust held 685,549 HSBC Holdings ordinary
shares of US$0.50 each which may be exchanged for Sinopia Asset Management shares arising from the exercise of options.
Union de Banques à Paris
shares of €16 each
Date of award
Exercise
price(€)
Exercisable
from
Exercisable
until
Options at
1 January
2002
Options
exercised
during year
Options
lapsed
during year
Options at
31 December
2002
3 Jul 1997 19.06 3 Jul 2002 3 Jan 2003 47,850 46,150 1,700 –
25 Nov 1998 19.97 25 Nov 2003 25 May 2004 27,900 ––27,900
22 Nov 1999 33.54 22 Nov 2004 22 May 2005 27,900 –1,700 26,200
12 Jul 2000 47.81 12 Jul 2005 12 Jan 2006 28,400 –2,000 26,400
Valuation of freehold and leasehold
land and buildings
HSBC’ s freehold and long leasehold properties,
together with all leasehold properties in the Hong
Kong SAR, were revalued in September 2002 in
accordance with HSBC’ s policy of annual
valuation. As a result of this revaluation, the net
book value of land and buildings has decreased by
US$359 million.
Further details are included in Note 25 of the
‘Notes on the Financial Statements’ .
Board of Directors
The objectives of the management structures
within HSBC, headed by the Board of Directors of
HSBC Holdings and led by the Group Chairman,
are to deliver sustainable value to shareholders.
Implementation of the strategy set by the Board is
delegated to the Group Executive Committee under
the leadership of the Group Chief Executive.
The Board meets regularly and Directors
receive information between meetings about the
activities of committees and developments in
HSBC’ s business. All Directors have full and
timely access to all relevant information and may
take independent professional advice if necessary.