0175 Geely Automobile Holdings Limited Annual Report 2011

Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201114. Directors’ Remuneration and Employees’ Emoluments (Continued)(a)Directors’ remuneration (Continued)No director waived any emoluments during the years ended 31 December 2011 and 2010.Note:These represent the estimated value of share options granted to the directors under the Company’s share optionscheme. The value of these share options is measured according to the Group’s accounting policies for sharebasedpayment transactions as set out in note 5(m) and, in accordance with that policy, includes adjustments toreverse amounts accrued in previous years where grants of equity instruments are forfeited prior to vesting.The details of these benefits in kind, including the principal terms and number of options granted, are disclosedunder the paragraph “Share Options” in the directors’ report and in note 33 to the consolidated financialstatements.(b)Employees’ emolumentsOf the five individuals with the highest emoluments in the Group, three (2010: all) were directors of theCompany whose emoluments are included in the disclosures in note 14(a) above. The aggregate of theemoluments in respect of the other two (2010: nil) individuals are as follows:2011 2010RMB’000RMB’000Basic salaries and allowances 6,453 –Retirement benefits scheme contributions 252 –Share-based payment expense 3,853 –10,558 –The emoluments of the two (2010: nil) individuals with the highest emoluments are within the followingbands:2011 2010Number of Number ofindividuals individualsHK$4,500,001 – HK$5,000,000 1 –HK$7,000,001 – HK$7,500,000 1 –2 –90