Lenovo 2014 Annual Report Download - page 115

113
2013/14 Annual Report Lenovo Group Limited
DIRECTORS’ RIGHTS TO ACQUIRE SHARES OR DEBENTURES (continued)
Share Option Scheme (continued)
2. Valuation of share options
The share options granted are not recognized in the financial statements until they are exercised. The directors
consider that it is not appropriate to value the share options on the ground that certain crucial factors for such
valuation are variables which cannot be reasonably determined at this stage. Any valuation of the share options
based on speculative assumptions in respect of such variables would not be meaningful and the results thereof
may be misleading to the shareholders. Thus, it is more appropriate to disclose only the market price and exercise
price.
Long-Term Incentive Program
The Company adopted the long-term incentive program on May 26, 2005, under which the Board or the trustee of
the program shall select the employees (including but not limited to the directors) of the Group for participation in the
program, and determine the number of shares to be awarded.
Details of the movements in the share options and the share awards for the year ended March 31, 2014 are set out
under the section headed “Long-Term Incentive Schemes” in the Compensation Committee Report.
Save as disclosed in the sections headed “Directors’ Interests”, “Share Option Scheme and “Long-Term Incentive
Program” of this report, and “Long-Term Incentive Program” of the Compensation Committee Report, at no time during
the year ended March 31, 2014 was the Company or any of its subsidiaries a party to any arrangements to enable the
directors of the Company to acquire benefits by means of acquisitions of shares in, or debentures of, the Company or
any body corporate.
SUBSTANTIAL SHAREHOLDERS’ AND OTHER PERSONS’ INTERESTS
As at March 31, 2014, 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 2,867,636,724 507,819,317 3,375,456,041 32.44%
(Note 2)
Short position –89,900,000 89,900,000 0.86%
(Note 3)
Sureinvest Holdings Limited Long position 661,000,000 –661,000,000 6.36%
(Note 4)
Google Inc. Long position –618,301,731 618,301,731 5.94%
(Note 5)
Google International LLC Long position 618,301,731 –618,301,731 5.94%
(Note 5)