it's just the beginning for Cirralto!, page-764

Afaik, once you convert your options the CGT resets back to 12 months again on the day you exercised your option. For example:

1. Selling the options in the market
~~~~~~~~~~~~~~~~~~~~~~~~
01/01/2020 Purchased CROO options
01/01/2021 Sell CROO options in the market - 50% CGT


2. Exercising the options, then selling the heads in the market
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
01/01/2020 Purchased CROO options
01/01/2021 Exercised CROO options and convert to heads - CGT clock reset back to 12 months
01/01/2022 Sell CRO heads in the market - 50% CGT

In scenario 2, if you sold anywhere between the calendar year of 2021 you will not be eligible for the 50% CGT tax as the CGT clock has now reset back to 12 months due to the exercising of the CROO options.

I would imagine one would only exercise the options and sell the heads when the options are closer to the expiry date, or when converting from options to heads would provide a greater percentage gains when selling the heads, compared to selling the options directly in the market.

Please advise if the above is incorrect.

Disclaimer: Not an investment advise by the way.