boqpc, page-31

I am a current BOQPC holder and have gone over Blackriver's posts on the subject. Looks to me like his views have pretty much been spot-on!
I've taken the opportunity to convert into the new hybrid, but unfortunately have some BOQPCs that were not eligible for conversion because of BOQ's requirement re record date (9 Nov). I'll now be in a holding situation with those BOQPCs (like the rest of the just under 200,000 BOQPCs that didn't convert to the new hybrid). Of course those BOQPCs could be sold on market, but I'm not inclined to sell.
I agree with the comments that the BOQPCs may have liquidity issues and with fewer than 200,000 on issue that could be a problem. I don't see that BOQ has the right to delist BOQPC and my thinking is that given those hybrids won't meet Basil III requirements, and that the small balance of the outstanding securities - it is now uneconomic for BOQ to maintain and manage. BOQ would have to be seriously looking to mop up the remaining BOQPC securities at the next available opportunity (which is next interest payment date in 2013).
On that basis it looks to me like anyone holding the BOQPCs would be reasonably well placed.
Counter views?