Business
Hexagon proposes distribution and listing of Octave Intelligence plc and provides update on planned spin-off
Hexagon AB today announced that the Board of Directors has resolved to propose the distribution of and listing of Octave Intelligence plc ("Octave") to the Annual General Meeting (AGM) to be held on Friday 24 April 2026, whereby ten (10) shares in Hexagon entitle to one (1) share of the corresponding share class in Octave. Class B ordinary shares in Octave will be listed on Nasdaq Global Select Market in New York and a temporary Swedish depository receipt ("SDR") program will be implemented purs
About this update from Hexagon Ab Class B
[{"type":"text","content":"STOCKHOLM, March 24, 2026 /PRNewswire/ -- Hexagon AB today announced that the Board of Directors has resolved to propose the distribution of and listing of Octave Intelligence plc ("Octave") to the Annual General Meeting (AGM) to be held on Friday 24 April 2026, whereby ten (10) shares in Hexagon entitle to one (1) share of the corresponding share class in Octave. Class B ordinary shares in Octave will be listed on Nasdaq Global Select Market in New York and a temporary Swedish depository receipt ("SDR") program will be implemented pursuant to which SDRs representing class B ordinary shares in Octave will be listed on Nasdaq Stockholm. All shares in Octave will be distributed and the distribution of the shares in Octave is expected to be made in accordance with the so-called Lex Asea rules. The Board of Directors has today also resolved to propose that the Annual General Meeting authorizes the Board of Directors to determine the record date for the right to receive shares in Octave.","length":1022,"tagName":"p"},{"type":"text","content":"Octave currently expects to maintain the SDR program until further notice, which Octave expects to be for about two years following the date of the distribution. Octave expects to evaluate the status of the listing on Nasdaq Stockholm from time to time, including based on liquidity considerations, and will provide at least three months' notice prior to termination of the listing on Nasdaq Stockholm.","length":406,"tagName":"p"},{"type":"text","content":"Additional information to Hexagon's shareholders regarding the proposed distribution of the shares in Octave will be published in the form of an information brochure on Hexagon's website, available under the Annual General Meeting 2026 section.","length":252,"tagName":"p"},{"type":"text","content":"Furthermore, Octave will later today file an amendment to its Registration Statement on Form 10 under the U.S. Securities Exchange Act of 1934 with the U.S. Securities and Exchange Commission. The amendment includes unaudited pro forma combined financial statements which illustrate the financial impacts of the distribution and related transactions and audited combined financial information of Octave for the year ended December 31, 2025. A copy of the amended Registration Statement will later today be available for r...