Correct!
I would suggest:
1. Apply for licence re-issue - your medical needs to be up to date for the first day of licence re-issue.
2. Whilst waiting for the licence to be re-issued, pass Licensing Skill Test for SEP Class Rating renewal. You must pass that before 4 Feb 2009.
3. When the licence arrives, get Examiner who did the LST to sign the relevant page.
That's as things are today - who knows how the unelected Eurocrats will muddle things further...