Where do you see 'everybody' converting to direct?
18616 shares on havelock, was about the same last week. And month.
Anyway, direction for converting are on havelock, first page of AM1.
Just looking at the increasing number of posts regarding the change to direct shares over here... Makes me wonder if there is any disadvantage of holding havelock shares now that they are not going to be managed by TAT anymore... (different dividends percentage, or fees, or whatever)
TaT basically says 'everything else stays the same' http://www.reddit.com/r/BitcoinStocks/comments/1ye2wp/tat_investments_am1am100smg_update/cfjtb8w