HUNTSVILLE, Ala., May 12, 2026 (GLOBE NEWSWIRE) -- On April 24, 2026, the Annual General Meeting of Hexagon AB (“Hexagon”) resolved to distribute all shares in its wholly-owned subsidiary Octave Intelligence plc (“Octave”) to Hexagon’s shareholders. Octave’s Swedish depository receipts (“SDRs”) will be listed on Nasdaq Stockholm and Octave’s class B ordinary shares will be listed on the Nasdaq Stock Market in New York (“Nasdaq New York”).
Octave has prepared a prospectus regarding the admission to trading on Nasdaq Stockholm of the company’s SDRs that will each represent one (1) underlying class B ordinary share in Octave. The prospectus has been approved and registered by the Swedish Financial Supervisory Authority.
Octave has filed its Registration Statement on Form 10 and amendments thereto under the U.S. Securities Exchange Act of 1934 with the U.S. Securities and Exchange Commission regarding the listing of its class B ordinary shares on Nasdaq New York. The Registration Statement on Form 10 has become effective.
The prospectus and the registration statement are now available on the Hexagon and Octave websites, www.hexagon.com and www.octave.com.
The last day for trading in Series B shares in Hexagon including the right to receive Octave’s shares or SDRs is May 20, 2026. The first day of trading in Series B shares in Hexagon excluding the right to receive Octave’s shares or SDRs is May 21, 2026. The record date for the distribution is May 22, 2026.
The first day of trading in Octave’s SDRs on Nasdaq Stockholm is expected to be May 25, 2026, and delivery of Octave’s SDRs is expected to occur on May 26, 2026.
The first day of “when-issued” trading in Octave’s class B ordinary shares on Nasdaq New York is expected to be May 21, 2026. The first day of regular-way trading in Octave’s class B ordinary shares on Nasdaq New York is expected to be May 28, 2026.
Following the distribution, holders of SDRs may convert their SDRs into Octave class B ordinary shares. Information about such conversion is available on the Hexagon and Octave websites, www.hexagon.com and www.octave.com.
Expected timetable
| May 20, 2026 | Last day of trading in Series B shares in Hexagon including right to receive Octave’s shares or SDRs in the distribution |
| May 21, 2026 | First day of trading in Series B shares in Hexagon excluding right to receive Octave’s shares or SDRs in the distribution |
| May 21, 2026 | Expected first day of "when-issued" trading in Octave’s class B ordinary shares on Nasdaq New York |
| May 22, 2026 | Record date for the distribution |
| May 25, 2026 | Expected first day of trading in Octave’s SDRs on Nasdaq Stockholm |
| May 25, 2026 | First day to request conversion of Octave’s SDRs to Octave’s class B ordinary Shares |
| May 28, 2026 | Expected first day of regular-way trading in Octave’s class B ordinary shares on Nasdaq New York |
Advisors
Morgan Stanley, Rothschild & Co and Skandinaviska Enskilda Banken AB (publ) are lead financial advisors to Hexagon and Octave in relation to the distribution and listings of Octave. Sullivan & Cromwell LLP, Mannheimer Swartling Advokatbyrå AB and Arthur Cox LLP are legal counsel to Hexagon and Octave as to U.S., Swedish and Irish law, respectively, in relation to the distribution and listings of Octave.
FOR MORE INFORMATION, CONTACT:
Elizabeth Chwalk, VP, Investor Relations, Octave +1 401 749 - 0278, elizabeth.chwalk@octave.com
About Octave:
Octave provides mission-critical software that empowers organizations to make informed decisions across every stage of the asset lifecycle — Design, Build, Operate and Protect — where performance, safety, and reliability are non-negotiable and failure is not an option.
Turning complex operational data into actionable intelligence, Octave connects expertise, real-world conditions and enterprise-scale insight to improve performance, resilience and incident response where it matters most.