Kipon released an image of this today:
[original reference unavailable]
This should be a cheaper alternative to run native EOS lenses on m4/3 cameras from Panasonic and Olympus without resorting to the adapters with the built in iris. While no pricing information has been released, other adapters from Kipon have been very competitive in comparison to other brands. Also you can count on numerous other manufactures in China replicating this adapter if its successful.