Lenovo 2014 Annual Report Download - page 116

114 Lenovo Group Limited 2013/14 Annual Report
DIRECTORS’ REPORT
SUBSTANTIAL SHAREHOLDERS’ AND OTHER PERSONS’ INTERESTS (continued)
Notes:
1. The approximate percentage of interests is based on the shares/underlying shares comprising the interests held as a percentage of all the issued
share 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 507,819,317 shares, 477,819,317 shares are directly held by Right Lane Limited (“Right Lane”), a direct wholly-owned subsidiary of Legend
Holdings Corporation, and 30,000,000 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 issued share capital of Sureinvest Holdings Limited (“SHL”). Accordingly, Mr. Yang is deemed to
have interests in those 661,000,000 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”.
5. These interests in the underlying shares of the Company are held by Google International LLC, a direct wholly-owned subsidiary of Google Inc.. On
January 30, 2014, the Company entered into an acquisition agreement with Google Inc., pursuant to which the Company conditionally agreed to
acquire 100% of the equity interests in Motorola Mobility Holdings LLC, details of the acquisition are set out in an announcement of the Company of
the same date. As at the date of this report, the transaction had not been completed and accordingly the consideration shares, limited to a maximum
of 618,301,731 shares of the Company as disclosed above, had not been issued to Google Inc. pursuant to the aforesaid agreement. The interests
of Google Inc. or Google International LLC disclosed above are in the underlying shares of the Company issuable under the acquisition agreement
and as recorded in the register maintained by the Company under section 336 of the SFO.
Save as disclosed above, as at March 31, 2014, 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.