Afaik, once you convert your options the CGT resets back to 12...

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.