Vtech 2001 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2001 Vtech annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

DIRECTORS' SERVICE CONTRACTS
None of the directors has a service contract with any company of the Group which is not determinable by the Group
within one year without payment of compensation, other than statutory compensation.
DIRECTORS' INTERESTS IN SHARES
Pursuant to the share option scheme adopted on 24th September 1991 (the ``Scheme''), the board of directors is
authorised to grant options to certain directors or employees of the Company or any of its subsidiaries to subscribe
for shares in the Company at prices to be determined by the board in accordance with the terms of the Scheme.
According to the register of directors' interests maintained by the Company pursuant to Section 29 of the Securities
(Disclosure of Interests) Ordinance of Hong Kong and the records of notification made to the U.K. Listing Authority
pursuant to Paragraphs 16.13 to 16.17 of the Listing Rules of the Financial Services Authority in the United Kingdom,
as at 31st March 2001, the directors and their associates had the following interests in the shares of the Company. All
of these interests were beneficial:
Number of Shares Number of
Share
Options
Personal
Interests
Family
Interests
Other
Interests Total
Allan WONG Chi Yun 11,515,830 3,968,683 74,101,153(i) 89,585,666 Ð
TO Cheuck Wah 1,184,674 1,065,522 Ð 2,250,196 Ð
William HO Mook Lam 2,081,000 337,700 Ð 2,418,700 Ð
Albert LEE Wai Kuen 809,332 Ð Ð 809,332 Ð
Paddy LAW Wai Leung Ð Ð Ð Ð 200,000(ii)
Jack Kenneth HIRSCH 230,578 Ð Ð 230,578 100,000(ii)
Edward Barry ARMSTRONG 101,607 Ð Ð 101,607 200,000(ii)
Nils Erik Vilhelm MARTENSSON 1,521,395 Ð Ð 1,521,395 Ð
Philip Leigh TOSE Ð Ð Ð Ð Ð
Notes:
(i) The shares were held beneficially as to 65,496,225 by Conquer Rex Limited, as to 1,416,325 by Honorex Limited and as to 7,188,603 by Twin
Success Pacific Limited, which were owned by trusts, the discretionary objects of which were Mr. Allan WONG Chi Yun and members of his
family.
(ii) The share options are exercisable during the period from 1st May 1998 to 30th April 2008 at a subscription price of US$2.9 per share.
(iii) No share options were exercised by the directors of the Company during the year.
As at 31st March 2001, Mr. William HO Mook Lam was the registered and beneficial owner of 499 Class ``A'' shares in
VTech Electronics Canada Limited, a subsidiary of the Company.
During the period from 1st April 2001 to 27th June 2001, the following changes occurred to the above interests:
1. From 2nd to 10th April 2001, Mr. Allan WONG Chi Yun acquired a total of 476,000 shares as personal interests
in the Company.
2. On 2nd April 2001, Mr. Paddy LAW Wai Leung acquired 138,000 shares as personal interests in the Company.
DIRECTORS' INTERESTS IN CONTRACTS
No contracts of significance in relation to the Company's business to which the Company or its subsidiaries was a
party and in which a director of the Company had a material interest, whether directly or indirectly, subsisted at the
end of the year or at any time during the year.
27
VTech Holdings Ltd Annual Report 2001
Report of the Directors