Lenovo 2014 Annual Report Download - page 106

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104 Lenovo Group Limited 2013/14 Annual Report
DIRECTORS’ REPORT
PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES
During the year, the Company repurchased a total of 51,054,000 shares of the Company at prices ranging from
HK$6.64 to HK$7.00 per share on The Stock Exchange of Hong Kong Limited (the “Stock Exchange” or “HKSE”).
Details of the repurchases of such shares were as follows:
Month of the
repurchases
Number of shares
repurchased
Highest price
paid per share
Lowest price
paid per share
Aggregate
consideration
paid (excluding
expenses)
HK$ HK$ HK$
June 2013 18,376,000 7.00 6.66 126,399,560
July 2013 32,678,000 7.00 6.64 224,064,240
51,054,000 350,463,800
All 51,054,000 shares repurchased were cancelled during the year. The repurchases were effected by the Company for
the enhancement of shareholders’ value.
During the year ended March 31, 2014, the trustee of the long-term incentive program of the Company purchased
103,812,000 shares from the market for award to employees upon vesting. Details of the program are set out under
section headed “Long-Term Incentive Program” in the Compensation Committee Report on page 78 of this annual
report.
Save as disclosed above, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the
Company’s securities during the year ended March 31, 2014.
DIRECTORS
The directors during the year and up to the date of this report are:
Chairman and Executive Director
Mr. Yang Yuanqing
Non-executive Directors
Mr. Zhu Linan
Mr. Zhao John Huan
Dr. Wu Yibing (retired on July 16, 2013)
Independent Non-executive Directors
Mr. Ting Lee Sen
Dr. Tian Suning
Mr. Nicholas C. Allen
Mr. Nobuyuki Idei
Mr. William O. Grabe (appointed as the lead independent director on May 23, 2013)
Mr. William Tudor Brown
Ms. Ma Xuezheng (redesignated from a non-executive director to an independent non-executive director on November
7, 2013)