HUNTSVILLE, Alabama, May 25, 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. Shareholders of Hexagon as per the record date May 22, 2026 have received one class A ordinary share in Octave for every ten Series A shares held in Hexagon, and one class B ordinary share in Octave for every ten Series B shares held in Hexagon.

Non-affiliate holders of Series B shares in Hexagon have received class B ordinary shares in Octave by way of Skandinaviska Enskilda Banken AB (publ) ("SEB") issuing Swedish depository receipts ("SDRs"). The SDRs each represent one underlying class B ordinary share in Octave and are deposited into shareholders' Euroclear Sweden accounts.

Octave's SDRs are traded on Nasdaq Stockholm under the ticker symbol "OCTV SDB" with the ISIN code SE0028329433.

Octave's class B ordinary shares will be traded on the Nasdaq Stock Market in New York ("Nasdaq New York") under the ticker symbol "OCTV" with the ISIN code IE0003YHD8K8 and the CUSIP G22845 104. 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.

Holders of SDRs may cancel their SDRs to receive the underlying class B ordinary shares as early as May 25, 2026, in which case such holders would be expected to receive the underlying class B ordinary shares on May 28, 2026. Conversion is effected through the Octave SDR program and the Euroclear Sweden and Depository Trust Company settlement systems and must be initiated by the bank, broker or other nominee through which the applicable SDRs are held. The holder's bank, broker or other nominee will be responsible for transmitting the relevant instructions to SEB, the SDR depositary. Following receipt of a valid conversion instruction, the relevant SDRs will be cancelled, and the corresponding class B ordinary shares will be delivered to the holder's designated account. Such conversion will be free of charge during the initial six months from and including the first day of trading in Octave SDRs on Nasdaq Stockholm, and thereafter requires payment of a conversion fee by the holder or its nominee or broker. Holders should contact their bank, broker or other nominee for detailed instructions and timing applicable to their account.

Home Member State

Octave, an Irish company with registered office in Ireland, hereby announces that it has chosen Ireland as its Home Member State for the purposes of the Transparency (Directive 2004/109/EC) Regulations 2007 of Ireland (as amended), the Central Bank (Investment Market Conduct) Rules 2019 and the Transparency Directive (Directive 2004/109/EC).***