On June 17th Lenovo CEO Yang Yuanqing notified the Hong Kong Stock Exchange that he had acquired approximately 797 million shares of the company from Legend Holdings Ltd, increasing his personal holdings of Lenovo stock by approximately 8% of the issued and outstanding shares.
Before taking into account the current purchase, Yang Yuanqing is interested in approximately 70 million shares, representing approximately 0.7% of the issued share capital of the company.
After the transaction, Legend Holdings will hold 34.82% of Lenovo shares, and will remain the largest, sole controlling shareholder of Lenovo. Lenovo will continue to be one of the important core assets of Legend Holdings, which will provide solid support to Lenovo as usual.
Quote attributable to Yuanqing Yang, CEO, Lenovo:
“While the transaction is a personal financial matter, I want to be very clear that my decision to make this investment is based on my strong belief in the company's very bright future. I also appreciate Chairman Liu and Legend Holdings support of me to become an owner of our company. Our culture is built on commitment and ownership – we do what we say, and we own what we do. My decision to increase my holdings represents my steadfast belief in these principles. I am extremely confident that Lenovo has the people, the technologies, the vision and the momentum to be successful and achieve our aspirations in the years ahead,” said Yang Yuanqing, CEO, Lenovo.