You have until the expiry date to convert them ( but don't leave...

You have until the expiry date to convert them ( but don't leave to the last minute - you need to allow time for the paperwork and money transfer - via cheque or electronic funds transfer direct to Andromeda ).

If you let them expire, they become worthless (asset actually ceases to exist).

You're overcomplicating the "value" of the options. The "value" in them is really just a way to secure a holding in the company for a lower initial outlay. It's really just like an old-fashioned lay-by but for shares.


When you do convert the options, a completely new asset is created. The Capital Gains Tax clock restarts for the newly created asset ( the new shares issued when you convert the options ).