No, I'm not wrong. If you sold at 0.18 and bought TRIP at 0.38 you would have more shares than if you waited for the conversion receiving 0.395 TRIP shares for every 1 CPH share you own.
Whether you want the TRIP shares or not is a different story. But that's not what I was getting at.
EDIT: and I agree with you, not everyone wants the new shares. I wouldn't put my hand up for them, but will probably hold anyway only because I have a small amount. I'm assuming you will have to pay international brokerage fees to liquidate however, depending on your broker.
