T20 IBX, page-63

Ahh yep. Thanks for clearing that up.

I've got to say, as a significant holder of IBXOA (meaning I have more OA than heads) there isn't appeal to me to undertake in the same conversion process you took at the current moment. This is largely because I anticipate a higher share price before expiry. The effect being that when I sell IBXOA to buy heads I will retain more units.
This in itself is a gamble/ risk though and it hasn't been paying off currently.