You would still hold your shares in the company, and expect to receive a CHESS to Issuer Sponsored conversion confirmation.
However you cannot easily trade the shares, that's the only difference. You would need to arrange an off market transaction.
If you incur a capital loss upon sale of those shares, then you can carry that loss forward or use it to offset any capital gains you may have incurred.
Simple?
SDL Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held