Thats the whole problem - they said they were going to do it (as...

Thats the whole problem - they said they were going to do it (as part of full disclosure required in connection with early exercise of options)........then no more information has been forthcoming. Poor timing, but there you go.

I'd say BTVOA holders have little choice but to convert anyway - virtually no time premium left in these, and they are becoming very illiquid very fast.

In total, I've sent off the cheques for early conversion of around 1,000,000 BTVOAs.