Its funny how Van Eck still allowed OIH to trade on Monday and Tuesday knowing that it was going to be stopped. The buyers that bought it on those days have no time to participate in the exchange offer. How did Van Eck make such a poor judgement call and cause so many people this unnecessary problem.
My feeling is that they should have have made the exchange to the new OIH the default, and the election if you wanted the cash out in Dec. 2012 or take the individual names in April. Doing this the way they did left many unknowing investors who don't get the call or track it daily or who purchased it recently in an non-liquid state.
Mellon NY bank won't know anything until it knows, so sit tight a wait a week or so, hopefully you'll have a third option as this may work to everyone's advantage. BTW, if you get the individual names, you will only pay the commission on the sale of said names, not the transfer.