If you accept into the facility you will receive 26.5c and this...

If you accept into the facility you will receive 26.5c and this stock will be tendered to SOL if 90% level is reached (not the 19c being bandied about). You can withdraw your acceptance at any time with this facility.

If you accept the SOL offer you will receive 19c. If 90% is reached they will forward the other 7.5c in due course.

EXS have 2c in the franking account. They cannot pay a fully franked dividend with their current cash levels.