Thoughts on IMUOD?, page-17

Fellow IMU holders, great announcement today.
I do understand how options work in regards to buying and then converting. I also understand that as an option holder you don't get voting rights untill your options are converted to heads.
My question or lack of knowledge is based around what happens if there is a special dividend offer or if a take offer happens while you hold options.
1) Do you get the chance to convert them to heads and receive the special dividend or do you miss out?
2) Once you convert ur options to heads, does your 1 year of CGT begin from the date of conversation.

Thanks