Convertible bond

On 30 September 2009, UCB announced that it successfully completed the offering of € 450 million senior unsecured convertible bonds, due 2015. On 1 October 2009, UCB announced the full exercise of the € 50 million over-allotment option. The exercise of the over-allotment option increases the aggregate principal amount of the offering from € 450 million to € 500 million.

The Bonds were placed through an accelerated book building placement with institutional investors.

The Bonds will be issued and redeemed at 100% of their principal amount and will have a coupon of 4.5% per annum, payable semi-annually in arrear , and unless previously converted, repurchased or redeemed will mature on the 6th anniversary of their issue, in 2015.

The initial conversion price is € 38.746 per share and is set at a premium of 35% to the volume-weighted average price of the Company's shares on Euronext Brussels from launch to pricing. If all of the Bonds were to be converted into new shares at the initial conversion price, 12 904 576 new shares would be issued, representing a dilution of 6.6% of the Company's share capital