How many Octave shares do Hexagon shareholders receive per Hexagon share?

Hexagon shareholders receive Octave shares at a 10:1 ratio (ten Hexagon Series A or B to one Octave ordinary share). According to Hexagon, Series B holders will receive SDRs representing underlying Octave class B shares.

Distribution and listing of Octave Intelligence plc

Q: What is the Octave distribution record date and who is eligible (Ticker: B)?

The record date for the Octave distribution is 22 May 2026 . According to Hexagon, shareholders registered (directly or nominee-registered) on that date will receive Octave shares or SDRs without further action.

Rhea-AI Impact

(High)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

Octave Intelligence plc (Ticker: OCTV / OCTV SDB) will be distributed from Hexagon to Hexagon shareholders with record date 22 May 2026. Ten Hexagon Series A or B shares entitle holders to one Octave share. Octave SDRs expect Nasdaq Stockholm trading on 25 May 2026; Nasdaq New York regular trading expected 28 May 2026.

Prospectus expected 11 May 2026. Management will review trademarks; $481.2 million of trademarks (31 Dec 2025) may face impairment or amortization in Q2 2026.

AI-generated analysis. Not financial advice.

Positive

Distribution record date set for 22 May 2026
Listing on Nasdaq Stockholm expected 25 May 2026 (SDRs)
Nasdaq New York regular-way trading expected 28 May 2026
Simple entitlement ratio: 10 Hexagon shares per 1 Octave share
Prospectus publication expected 11 May 2026

Negative

Possible impairment or amortization of $481.2M in trademarks
Listing and trading subject to regulatory approvals (Swedish and U.S.)
Conversion friction for directly registered shareholders to participate

News Market Reaction – B

-1.02%

1 alert

-1.02% News Effect

On the day this news was published, B declined 1.02%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Distribution ratio A: 10 Series A : 1 Octave class A share Distribution ratio B: 10 Series B : 1 Octave class B share Trademarks carrying amount: $481.2 million +5 more

8 metrics

Distribution ratio A 10 Series A : 1 Octave class A share Hexagon share distribution ratio for Octave shares

Distribution ratio B 10 Series B : 1 Octave class B share Hexagon share distribution ratio for Octave shares/SDRs

Trademarks carrying amount $481.2 million As of 31 December 2025 in Octave’s financial statements

Free conversion window 6 months Initial fee-free period for SDR-to-share conversions

Record date 22 May 2026 Record date for Hexagon distribution of Octave

Stockholm SDR trading 25 May 2026 Expected first day of Octave SDR trading on Nasdaq Stockholm

NYSE trading start 28 May 2026 Expected first day of regular-way trading for Octave on Nasdaq New York

Prospectus publication 11 May 2026 Expected Octave SDR prospectus publication date

Market Reality Check

Price: $43.13 Vol: Volume 11,436,893 vs 20-d...

normal vol

$43.13 Last Close

Volume Volume 11,436,893 vs 20-day average 10,826,269 (relative volume 1.06x). normal

Technical Price $41.09 is trading above the 200-day MA at $37.15, indicating a pre-news uptrend bias.

Peers on Argus

Sector momentum data show only one scanned peer, BTG, moving -9.26% without news...

1 Down

Sector momentum data show only one scanned peer, BTG, moving -9.26% without news. No broad, same-direction move across gold peers is evident relative to the target stock.

Historical Context

5 past events · Latest: Apr 21 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 21	Annual report release	Positive	-5.8%	BioArctic 2025 annual report with record profits and Alzheimer’s drug update.
Apr 15	ESG/technology project	Positive	-1.7%	Hexagon Green Cubes digital twin flights for mining reclamation with Vale.
Apr 10	Earnings date notice	Neutral	+2.6%	Barrick announcement of Q1 2026 results release and webcast timing.
Apr 08	Annual meeting materials	Neutral	-0.2%	Barrick information circular and details for virtual-only AGM.
Apr 08	Legal ruling update	Positive	+2.7%	Ontario Court of Appeal dismissal of North Mara-related appeal in Barrick’s favor.

Pattern Detected

Positive news has sometimes been followed by negative price reactions, while legal and governance updates have seen mixed but generally modest moves.

Recent Company History

Recent news flow spans multiple issuers tied to the ticker B. A BioArctic annual report highlighted a breakthrough Alzheimer’s drug and record 2025 profits yet saw a -5.84% reaction. A Hexagon ESG-focused mining initiative with Vale drew a -1.71% move. Barrick-specific items include an upcoming Q1 2026 earnings release, an information circular for a virtual AGM, and a favorable Ontario court decision on the North Mara mine, with reactions between -0.19% and +2.73%.

Market Pulse Summary

This announcement outlines Hexagon’s distribution of all Octave shares, the creation and listing of ...

Analysis

This announcement outlines Hexagon’s distribution of all Octave shares, the creation and listing of Octave SDRs, and expected start dates for trading in Stockholm and New York. It also flags a trademark review where $481.2 million of trademarks could face impairment or amortization after rebranding. Investors may focus on execution of the distribution timetable, the availability of the prospectus and Form 10, and the financial impact of any trademark charges as key elements to monitor going forward.

Key Terms

swedish depository receipts, sdrs, prospectus, registration statement on form 10, +4 more

8 terms

swedish depository receipts financial

"issuing Swedish depository receipts ("SDRs"). The SDRs will each represent"

Swedish depository receipts are financial certificates issued by a bank that stand in for shares of a foreign company and trade on Swedish exchanges in local currency; think of them as a local ticket that represents ownership of an overseas stock held in a secure vault. They matter to investors because they make it easier to buy, sell and receive dividends from foreign companies under Swedish trading rules and currency, while sometimes changing how voting rights, custody and tax treatment apply.

sdrs financial

"The SDRs will each represent one (1) underlying class B ordinary share"

Special Drawing Rights (SDRs) are an international reserve asset created by the IMF that act like a shared credit line for countries, giving them a pool of value they can exchange for widely accepted currencies when needed. Investors watch SDR allocations and usage because they influence global currency liquidity and sovereign borrowing stress; changes can affect exchange rates, bond yields and overall market stability much like a central bank stepping in to ease a cash crunch.

prospectus regulatory

"subject to customary conditions, such as the Swedish Financial Supervisory Authority's approval of the prospectus."

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

registration statement on form 10 regulatory

"prior to effectiveness of Octave's Registration Statement on Form 10 under the U.S."

A registration statement on Form 10 is a formal filing that a company submits to the U.S. securities regulator to register its securities and provide a full set of disclosures about its business, finances, management and risks. For investors it acts like a detailed product manual or passport for the company, offering the core facts and warnings needed to judge the investment’s safety and potential before buying shares.

u.s. securities exchange act of 1934 regulatory

"on Form 10 under the U.S. Securities Exchange Act of 1934."

A U.S. federal law that acts as the rulebook for trading and reporting by public companies, securities exchanges and market participants; it created the agency that enforces those rules. It requires ongoing public disclosure of financial results and major events, sets standards to prevent fraud and insider trading, and governs how markets operate—think of it as the referee and scorekeeper that helps investors see reliable, timely information and trust the fairness of the market.

when-issued financial

"A "when-issued" trading market in class B ordinary shares in Octave may develop"

"When-issued" refers to a situation where new bonds or stocks are announced and traded before they are officially available to buy. It’s like reserving a ticket for a concert before the tickets are printed, allowing investors to buy or sell these future securities in advance. This helps everyone plan ahead and see how much interest there is before the actual sale happens.

isin code technical

"Octave's SDRs will be traded under the ticker symbol "OCTV SDB" with the ISIN code"

An ISIN code is a unique identifier for a specific financial asset, like a stock or bond, similar to a product's barcode. It helps investors, traders, and banks quickly and accurately find and track that asset across different markets worldwide. This makes buying, selling, and managing investments more organized and reliable.

cusip technical

"Octave's class B ordinary shares will be traded under the ticker symbol "OCTV" with the ISIN code IE0003YHD8K8 and the CUSIP"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

AI-generated analysis. Not financial advice.

04/27/2026 - 12:48 PM

STOCKHOLM, April 27, 2026 /PRNewswire/ -- Record date and key transaction details

On 24 April 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. The Board of Directors also was authorised to determine the record date for the distribution, which has been set for 22 May 2026.

All shares in Octave will be distributed, whereby ten (10) Series A shares in Hexagon entitle holders to one (1) class A ordinary share in Octave and ten (10) Series B shares in Hexagon entitle holders to one (1) class B ordinary share in Octave. Non-affiliate holders of Series B shares in Hexagon will receive class B ordinary shares in Octave by way of Skandinaviska Enskilda Banken AB (publ) issuing Swedish depository receipts ("SDRs"). The SDRs will each represent one (1) underlying class B ordinary share in Octave and will be deposited into shareholders' Euroclear Sweden accounts. Aside from being registered as a shareholder of Hexagon on the record date for the distribution (directly registered or nominee-registered), no further actions are required in order to receive Octave's shares or SDRs (as applicable).

Nasdaq Stockholm has resolved to admit Octave's SDRs for trading on Nasdaq Stockholm subject to customary conditions, such as the Swedish Financial Supervisory Authority's approval of the prospectus. Octave has applied for listing of its class B ordinary shares on the Nasdaq Stock Market in New York ("Nasdaq New York"), which application is expected to be approved prior to effectiveness of Octave's Registration Statement on Form 10 under the U.S. Securities Exchange Act of 1934.

The last day for trading in Series B shares in Hexagon including the right to receive Octave's shares or SDRs is 20 May 2026. The first day of trading in Series B shares in Hexagon excluding the right to receive Octave's shares or SDRs is 21 May 2026.

The first day of trading in Octave's SDRs on Nasdaq Stockholm is expected to be 25 May 2026, and delivery of Octave's SDRs is expected to occur on 26 May 2026.

A "when-issued" trading market in class B ordinary shares in Octave may develop as soon as one New York business day prior to the record date, which would be 21 May 2026. Hexagon will announce further details about potential when-issued trading in Octave's class B ordinary shares before such date. The first day of regular-way trading in Octave's class B ordinary shares on Nasdaq New York is expected to be 28 May 2026.

Octave's SDRs will be traded under the ticker symbol "OCTV SDB" with the ISIN code SE0028329433. Octave's class B ordinary shares will be traded under the ticker symbol "OCTV" with the ISIN code IE0003YHD8K8 and the CUSIP G22845 104. Under the general terms and conditions for the SDRs, a holder of SDRs may apply for conversion to class B ordinary shares in Octave, and a holder of class B ordinary shares in Octave may apply for conversion to SDRs, as further set out below. The first day to request conversion of Octave's SDRs to Octave's class B ordinary Shares is 25 May 2026.

The prospectus for admission to trading of Octave's SDRs on Nasdaq Stockholm is expected to be published on 11 May 2026.

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, and copies thereof are available for review at www.sec.gov under the name Octave Intelligence plc.

The prospectus and the registration statement will be available on the Hexagon and Octave websites, www.hexagon.com and www.octave.com.

Potential impairment charges due to trademark review in connection with the distribution

Following the approval of the distribution by Hexagon shareholders at the Annual General Meeting, Octave's management intends to initiate the phase out of legacy brands and transition the Octave business to a unified Octave brand. As such, Octave will assess the useful life estimates of all trademarks which have historically been carried as indefinite-life intangible assets in its financial statements. If an indefinite-life intangible asset is subsequently determined to have a finite useful life, the asset will be tested for impairment and amortized prospectively over its estimated remaining useful life. As of 31 December 2025, trademarks were recorded at a carrying amount of $481.2 million in Octave's financial statements, substantially all or a significant portion of which may be subject to impairment or amortization upon completion of such review, which is expected in the second quarter of 2026.

Conversion of Octave's SDRs into Octave's class B ordinary shares

Following the distribution, holders of SDRs may convert their SDRs into Octave class B ordinary shares. Such conversion will be free of charge during the initial six months from and including the first day of trading in Octave's SDRs on Nasdaq Stockholm, and thereafter requires payment of a conversion fee by the holder or its nominee or broker.

Conversion by directly registered shareholders

Octave's class B ordinary shares cannot be delivered to directly registered shareholders. Consequently, directly registered shareholders who wish to participate in the conversion need to transfer their SDRs to a custody account, an investment savings account or an endowment insurance with a nominee with Euroclear Sweden. Otherwise, shareholders cannot participate in the conversion. Please note that service accounts (Sw. servicekonton) with an investment savings account function at Nordea are also "direct" securities accounts and shareholders with such accounts must open a custody account, a nominee-registered investment savings account or an endowment insurance account. Thereafter, shareholders should follow the instructions from their nominee to participate in the conversion.

Conversion by indirectly registered shareholders

Holders of SDRs that hold their SDRs through a nominee should follow the instructions from their nominee to participate in the conversion.

Expected timetable

11 May 2026	Expected publication of prospectus
20 May 2026	Last day of trading in Series B shares in Hexagon including right to receive Octave's shares or SDRs in the distribution
21 May 2026	First day of trading in Series B shares in Hexagon excluding right to receive Octave's shares or SDRs in the distribution
22 May 2026	Record date for the distribution
25 May 2026	Expected first day of trading in Octave's SDRs on Nasdaq Stockholm
25 May 2026	First day to request conversion of Octave's SDRs to Octave's class B ordinary Shares
28 May 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 the 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, please contact:

Octave:

Elizabeth Chwalk, VP, Investor Relations, Octave +1 401 749 - 0278, elizabeth.chwalk@octave.com

Hexagon:

Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, ir@hexagon.com

About Hexagon:

Hexagon is the global leader in measurement technologies. We provide the confidence that vital industries rely on to build, navigate, and innovate. From microns to Mars, our solutions ensure productivity, quality, safety, and sustainability in everything from manufacturing and construction to mining and autonomous systems.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,800 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.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.

Octave has approximately 7,200 employees in 45 countries. Learn more at octave.com and follow us on LinkedIn.

Important information:

This communication does not constitute an offer to exchange, sell or buy securities. There shall not be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This communication contains forward-looking statements. When used in this communication, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. They may involve risks and uncertainties, including technological advances in the measurement field, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of Hexagon's management as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by Hexagon's management and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. Hexagon disclaims any intention or obligation to update these forward-looking statements. Forward-looking statements are not guarantees of future performance and the actual results of Hexagon's operations and the development of the markets and the industry in which Hexagon operates or other outcomes suggested by such forward-looking statements (including any outcomes of a separation, a spin-off or a listing and any related business, financial, tax, regulatory or other implications, or differences between the existing Octave business area and any separated business) may differ materially from those described in, or suggested by, the forward-looking statements contained in this communication.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/hexagon/r/distribution-and-listing-of-octave-intelligence-plc,c4340793

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Press Release

View original content:https://www.prnewswire.com/news-releases/distribution-and-listing-of-octave-intelligence-plc-302754515.html

SOURCE Hexagon

FAQ

What is the Octave distribution record date and who is eligible (Ticker: B)?

The record date for the Octave distribution is 22 May 2026. According to Hexagon, shareholders registered (directly or nominee-registered) on that date will receive Octave shares or SDRs without further action.

When will Octave SDRs begin trading on Nasdaq Stockholm (Ticker: OCTV SDB)?

Octave SDRs are expected to begin trading on Nasdaq Stockholm on 25 May 2026. According to Octave, the prospectus publication is planned for 11 May 2026 and trading is subject to customary regulatory approvals.

When will Octave class B ordinary shares trade on Nasdaq New York (Ticker: OCTV)?

Regular-way trading in Octave class B ordinary shares on Nasdaq New York is expected on 28 May 2026. According to Octave, a when-issued market may form one business day before the record date if approved.

What are the conversion options between Octave SDRs and class B ordinary shares?

Holders may convert SDRs to Octave class B ordinary shares; initial six-month conversions are free of charge. According to Octave, conversions thereafter require a fee and specific custody arrangements for directly registered holders.

Does Octave face any material accounting risks from the distribution?

Octave will review legacy trademarks and may impair or amortize assets recorded at $481.2 million as of 31 December 2025. According to Octave, that review is expected to complete in Q2 2026 and may lead to charges.