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MSAB Hexagon shares ahead of the Octave spin-off

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MSAB is not be permitted under U.S. securities laws to receive Octave SDRs in the Octave spin-off, as it is classified as an “affiliated shareholder”. Instead, MSAB will directly receive Octave Class B shares as a part of the distribution.

For settlement-related reasons with Euroclear, MSAB therefore needs to temporarily transfer its Hexagon shares to a designated account at SEB ahead of the Octave distribution. MSAB’s Hexagon shares will be returned to the current accounts following the distribution of Octave and no ownership changes will arise as a part of these transfers.

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