Lenovo 2014 Annual Report Download - page 124
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122 Lenovo Group Limited 2013/14 Annual Report
DIRECTORS’ REPORT
CONTINUING CONNECTED TRANSACTIONS (continued)
In accordance with rule 14A.37 of the Listing Rules, the independent non-executive directors of the Company reviewed
the continuing connected transactions in the paragraph above and confirmed that the transactions were entered into:
(i) In the ordinary and usual course of business of the Group;
(ii) Either on normal commercial terms or on terms no less favorable to the Group than terms available to or from (as
appropriate) independent third parties; and
(iii) In accordance with the relevant agreement governing them on terms that were fair and reasonable and in the
interests of the shareholders of the Group as a whole.
Pursuant to rule 14A.38 of the Listing Rules, the Company’s auditor was engaged to report on the Group’s continuing
connected transactions in accordance with Hong Kong Standard on Assurance Engagements 3000 “Assurance
Engagements Other Than Audits or Reviews of Historical Financial Information” and with reference to Practice Note
740 “Auditor’s Letter on Continuing Connected Transactions under the Hong Kong Listing Rules” Issued by the Hong
Kong Institute of Certified Public Accountants. The auditor has issued an unqualified letter containing findings and
conclusions in respect of the continuing connected transactions disclosed by the Group in the paragraph above in
accordance with rule 14A.38 of the Listing Rules. A copy of the auditor’s letter has been provided by the Company to
the Stock Exchange.
Note 1: The translation of Japanese yen into United States dollars is based on the exchange rate of JPY1.00 to US$0.0121 for information purposes only.
Note 2: The translation of Japanese yen into United States dollars is based on the exchange rate of JPY1.00 to US$0.0098 for information purposes only.
AUDITOR
The financial statements for the year have been audited by PricewaterhouseCoopers who retire and, being eligible,
offer themselves for re-appointment.
PUBLIC FLOAT
Based on the information that is publicly available to the Company and within the knowledge of the directors of the
Company, as at the date of this report, there is sufficient public float of more than 25% of the Company’s issued shares
as required under the Listing Rules.
On behalf of the Board
Yang Yuanqing
Chairman and Chief Executive Officer
May 21, 2014