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Hibiscus said it will fund the purchase through a combination of internally generated funds of the company and its subsidiaries or existing debt or other facilities.
"The group does not intend to propose any equity issuances as a source of funding as the group believes that other available sources of funding are sufficient to fund the purchase consideration," it said in its filing.
Hibiscus said the MLJ field was a producing and cash generating gas asset with no additional financial commitments expected to be incurred.
The actual breakdown of the source of funding will only be determined later and will depend on, amongst others, the group's cash reserves and future funding requirements," it added.