------------------ U.S. SECURITIES AND EXCHANGE COMMISION ----------------------------
| F O R M 5 | Washington, D.C. 20549 | OMB APPROVAL |
------------------ |--------------------------|
[ ] Check this box if ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0362|
no longer subject |Expires: December 31, 2005|
to Section 16. Form 4 |Estimated avg. burden |
or Form 5 obligations |hours per response.....1.0|
may continue. Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ----------------------------
[ ] Form 3 Holdings Reported Section 17(a) of the Public Utility Holding Company Act of 1935 or
[ ] Form 4 Transactions Section 30(f) of the Investment Company Act 1940
Reported
------------------------------------------------------------------------------------------------------------------------------------
|1.Name and Address of Reporting Person* |2.Issuer Name and Ticker or Trading Symbol |6.Relationship of Reporting Person(s) to|
| | | Issuer (Check all Applicable) |
| UGC Holdings, Inc. | United Pan-Europe Communications NV | |
| (fka UnitedGlobalCom, Inc.) | (UPCOY) | Director X 10% Owner |
|----------------------------------------|------------------------------------------------|--- --- |
| (Last) (First) (MI)|3.IRS Identification |4.Statement for Month/ | Officer Other |
| | Number of Reporting | Year |---(give title below) ---(Specify below)|
| | Person, if an entity | | |
| | (Voluntary) | | |
| 4643 S. Ulster Street, Suite 1300 | | December 31, 2001 | ----------------------------------- |
|----------------------------------------| |------------------------|----------------------------------------|
| (Street) | |5.If Amendment, Date of |7. Individual or Joint/Group Filing |
| | | Original (Month/Year) | (Check Applicable Line) |
| | | | |
| | | | X Form filed by One Reporting Person |
| | | |--- |
| | | | Form filed by More than One |
| Denver CO 80237 | | |--- Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security |2.Transac- |3.Trans- |4.Securities Acquired (A) or |5.Amount of |6. |7.Nature of Indirect|
| (Instr. 3) | tion Date | action | Disposed of (D) | Securities |Own.| Beneficial |
| | (Month/ | Code | (Instr. 3, 4 & 5) | Beneficially |Form| Ownership |
| | Day/Year) |(Instr.8)|-------------------------------| Owned at End of|(D) | (Instr. 4) |
| | | | |(A) | | Issuer's |or | |
| | | | |or | | Fiscal Year |(I) | |
| | | | Amount |(D) | Price | (Instr. 3 & 4) | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| Ordinary Shares | | | | | | 235,452,209(1) | D | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
| | | | | | | | | |
| | | | | | | | | |
|-------------------------------|------------|---------|----------------|----|---------|-----------------|----|--------------------|
Page 1
Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 2270 (7-97)
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
FORM 5 (continued) TABLE II - Derivative Securities Acquired, Disposed of, Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
------------------------------------------------------------------------------------------------------------------------------------
|1.Title of|2.Conver-|3. |4.Tran- |5.Number of |6.Date |7.Title and Amount |8.Price of|9.Number |10. |11.Nature |
|Derivative|sion or |Trans| saction| Derivative |Exercisable| of Underlying |Derivative| of |Own.| of |
|Security |Exercise |Date | Code | Securities |and | Securities |Security |Derivative|Form|Indirect |
|(Instr. 3)|Price of |(Mon/|(Instr.8)| Acquired (A) or |Expiration | (Instr. 3 & 4) |(Instr. 5)|Securities|of |Beneficial|
| |Deriva- | Day/| | Disposed of (D) |Date | | |Benefi- |Deri|Ownership |
| |tive |Year)| | (Instr. 3, 4 & 5) |(Month/Day/| | |cially |Sec.|(Instr. 4)|
| |Security | | | | Year) | | |Owned at |Dir.| |
| | | | | |-----------|---------------------| |End of |(D) | |
| | | | | | | | |Amount or | |Year |or | |
| | | | |---------------------|Date |Exp. | Title |Number of | |(Instr. 4)|Ind.| |
| | | | | (A) | (D) |Exbl.|Date | |Shares | | |(I) | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| | | | | | | | | | | | | | |
|Series 1 | | | | | | | | Ordinary |8,803,906 | | 2,500 | D | |
|Convertible | | | | | | | Shares A | (2) | | | | |
|Class A | | | | | | | | | | | | | |
|Preference| | | | | | | | | | | | | |
|Shares | | | | | | | | | | | | | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
|----------|---------|-----|---------|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
Explanation of Responses:
(1) Since the Reporting Person's last Report, 3,138,289 shares previously held indirectly through a Foundation are now owned
directly as a result of the Foundation being liquidated. Prior to such liquidation, during 2001, the Foundation transferred
1,758,681 Ordinary Shares A to persons who exercised stock options of the Issuer.
(2) Pusuant to the terms of the Preference Shares, the number of ordinary shares accretes at 8% per annum until converted.
UGC Holdings, Inc.
**Intentional misstatements or omissions of facts constitute Federal By: /s/ Ellen P. Spangler March 7, 2002
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ----------------------------------- -----------------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed. Senior Vice President
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not Page 2
required to respond unless the form displays a currently valid OMB Number