Lenovo 2014 Annual Report Download - page 183

181
2013/14 Annual Report Lenovo Group Limited
30 Share capital (continued)
(b) Share options
Under the Company’s employee share option scheme adopted on January 18, 1994 (“Old Option Scheme”), the Company
granted options to employees (including directors) of the Company or its subsidiaries to subscribe for ordinary shares in
the Company, subject to a maximum of 10 percent of the issued share capital of the Company from time to time. Options
granted are exercisable at any time during a period of ten years from the date upon which the option is accepted. The
subscription price of the option shares is the higher of the nominal value of the ordinary shares and an amount which is 80
percent of the average of the closing prices of the listed ordinary shares on the five trading days immediately preceding the
date on which the offer is made. The Old Option Scheme was terminated on April 26, 2002.
On March 25, 2002, an ordinary resolution approving the adoption of a new share option scheme (“New Option Scheme”)
was passed by shareholders at an extraordinary general meeting of the Company.
Under the New Option Scheme, the Company may grant options to qualified participants as defined in the New Option
Scheme to subscribe for ordinary shares in the Company, subject to a maximum of 10 percent of the issued share capital
of the Company as at the date of adoption of the New Option Scheme. Options granted are exercisable at any time during
a period of ten years from the date upon which the option is accepted. The subscription price of the option shares is the
highest of the closing price of the listed ordinary shares on the date of grant; the average of the closing prices of the listed
ordinary shares for the five trading days immediately preceding the date of grant; and the nominal value of the ordinary
shares.
The New Option Scheme expired on April 26, 2012, and no further options could thereafter be granted under the New
Option Scheme. However, all remaining provisions will remain in full force and effect to govern the exercise of all the
options granted under the New Option Scheme prior to its expiration.
2014 2013
Number of
outstanding
share options
Number of
outstanding
share options
At the beginning of the year 63,939,051 92,661,051
Exercised during the year (ii) (18,277,450) (20,486,000)
Lapsed during the year (iii) (14,174,000) (8,236,000)
At the end of the year (iv) 31,487,601 63,939,051
(i) No share options were granted or cancelled by the Company during the years ended March 31, 2013 and 2014.
(ii) Details of share options exercised during the year ended March 31, 2014 are as follows:
Exercise date
Exercise
price
Market value
per ordinary
share at
exercise date
Number of
share options
exercised
Gross
proceeds
received
(MM.DD.YYYY) HK$ HK$ HK$
04.03.2013 to 04.25.2013 2.245 6.45-7.63 1,314,000 2,949,930
04.03.2013 to 04.25.2013 2.545 6.60-7.63 164,000 417,380
05.15.2013 to 05.31.2013 2.545 6.71-7.99 260,000 661,700
06.03.2013 to 06.17.2013 2.545 7.40-8.08 472,000 1,201,240
07.12.2013 to 07.31.2013 2.545 7.06-7.27 72,000 183,240
08.01.2013 to 08.30.2013 2.545 7.12-7.88 446,000 1,135,070
09.03.2013 to 09.27.2013 2.545 7.55-8.26 3,158,000 8,037,110
10.08.2013 to 10.31.2013 2.545 8.07-8.33 2,612,000 6,647,540
11.01.2013 to 11.29.2013 2.545 8.36-9.46 4,892,000 12,450,140
12.02.2013 to 12.31.2013 2.545 9.13-9.49 526,000 1,338,670
01.02.2014 to 01.30.2014 2.545 8.99-10.96 1,805,450 4,594,870
02.10.2014 to 02.28.2014 2.545 7.72-8.62 222,000 564,990
03.03.2014 to 03.31.2014 2.545 8.14-8.59 2,334,000 5,940,030
18,277,450 46,121,910
US$5,946,000