The Oxford Business Group (OBG) stated that voluntary liquidation would not affect its operations in the countries where it is represented. This announcement is part of the procedure to move the company from the British Virgin Islands, which is its current jurisdiction of registration, to the United Kingdom, where it is headquartered.  According to the announcement published in the Dubai-based newspaper Emirates Business, the voluntary liquidation process started on March 18.

The Director of OBG’s Dubai office Rakesh Kunhiraman stated that the company now “is in the process of setting up the business back in the UK, and hence the voluntary liquidation.” Kunhiraman and OBG’s public relations department declined to comment on the impact the moving out of the tax-free British Virgin Islands would have on operational costs and profits. They said that, being a private company, they should not make this information publicly available.

The Director of Dubai office said the group performance was very good in both publishing and consultancy activities, due to advertisements and sponsorships and due to developing reports commissioned by the group’s clients.

The Oxford Business Group publishes annual reports for 30 countries including Dubai, Abu Dhabi, Sharjah, Ajman and Ras Al Khaimah, and provides consultancy services. Three main offices of the group are located in Dubai, UK and Turkey.

This is a 172% increase over company’s original land position reported in July 2009, which also includes 14 exploration licenses which have been granted last week. Also, Talon Metals has submitted applications for further exploration licences over an area of 23,066 hectares and is conducting negotiations on the acquisition of interest in additional areas within the Sergipe Basin.

Phase I of project’s exploration program includes an initial compilation of drilling and geophysical data in order to identify and model main targets within the Sergipe basin. After more drilling and seismic data were identified and acquired, the number of oil wells now available to Talon within the basin has increased significantly from 86 to 262. The company announced that the processing and interpretation of the extended data base has prolonged the terms of Phase I and delayed the commencement of the proposed drilling program until February 2010.

By words of Mr. Stuart Comline, President and CEO of Talon, company’s current landholding represents approximately 12% of the onshore portion of Sergipe basin, which is currently the only potash producing region in Brazil. The new licenses increase the area held by the BVI company, and the expanded data base will enhance its exploration program.

The Project consists of seven onshore and two offshore prospects. Currently the most attractive onshore prospects are the Sergi, Rio do Sal and Capela, which are the focus of Talon’s exploration program. Talon holds exploration licences for  a total area of 21,117 hectares, and has applications for exploration licences for another 19,150 hectares.

By words of Mr. Stuart Comline, President and CEO of Talon, the company “will complete the review of the existing data in order to guide field based exploration program.” The company expects to receive all the data by the middle of July 2009, and to complete their evaluation by the end of August 2009. This is the end of Phase I of the exploration program, while Phase II is planned to commence in September 2009.

The expiration date of the stock repurchase is set as March 31, 2010. The program will be financed by HLS’ cash flow from operation, and the timing of such purchases will be determined by HLS’ management. HLS’ CEO Dr. Changli Wang commented on the share repurchase saying that it is a “strong demonstration of their commitment to leveraging the strong cash position in order to maximize long-term returns for the shareholders.”

Also, the BVI company cancelled its incentive share plan, which was part of the merger agreement between Gifted Time Holdings and Chardan North Acquisition Corp., and which totaled 7 million remaining shares in aggregate for the years of 2009, 1010 and 2011, through the immediate issuance of 4 million shares to its Chinese subsidiaries’ original selling shareholders. Under the terms of this agreement, in which HLS Systems International was created, the company was obligated to issue to the original selling shareholdersup to 11 million shares over 5 years.

On March 31, 2009 Mr. Tong will assume Mr. Sung’s role as CFO of the company. Formerly he worked in the audit practice of the Shanghai office of PriceWaterhouseCoopers, then he led audit teams in the UK and Shanghai for various industries. Prior to serving as the Senior Vice President of Finance at China Cablecom, Mr. Tong was the CFO at Merrylin International Holding. Also, he served as Head of Accountancy Training at the Financial Training Company, a leading provider of professional qualifications and business training in the UK and Asia.

Clive Ng, Founder & Executive Chairman of China Cablecom, said that under the guidance of the new CFO the company is confident in being well-positioned in the continuing focus on enhancing their value-added service platform, reducing the debt, cutting expenses, and improving margins.

Previously Kirchner was president of freight forwarding at UPS Supply Chain Solutions, which he joined in 2004 when it bought Menlo Worldwide Forwarding Inc. He had been chief operating officer at Menlo.

The person who previously was in this post, MacFarlane, will stay in a transition through April and then retire as an employee, also staying on the board as non-executive chairman. The current non-executive chairman, Tiger Wessels, will stay on the board.

The new CFO of the NASDAQ listed BVI company Ms Davis is a Certified Public Accountant. She joined the company from Ernest & Young (Bahamas), where she held the role of Senior Auditor. Ms Davis will be based in CIC Energy’s head office in Nassau, Bahamas.

Mr Leung has experience in accounting, planning and budgeting, strategic development, internal controls as well as PV markets in the U.S. and China. He worked in the post of Managing Director of Oracle Corporation in HK and China, and in the post of Chief Accountant of Orix HK Corporation. Mr Leung also took part in defining the first set of accounting principle and tax rules for leasing industry. He holds a Master’s degree in Business Administration from International Management Centre of Buckingham, UK.

Mr. Wu Rui Lin commented that his planning of purchasing shares in Xing, as well as the recently announced re-purchase program by company’s subsidiary Qiao Xing Mobile, demonstrates the strong confidence of companies’ management.

BVI company’s CEO also said that the temporary sales decrease in Qiao Xing was primarily due to the heavy earthquake that happened in Sichuan, China, and the performance of the company would be better after some adjustments will be made to its business strategy. He said that, from the company level, more measures will be considered to increase its value.

The expected lending group includes development finance institutions with a mandate to fund projects like the Mmamabula Energy Project, having a high socio-economic development impact in the region. It is also anticipated that certain export credit agencies will participate in the funding in support of the export of goods and services from their host countries for the construction of the Mmamabula Energy Project. The whole financing plan is expected to be completed by a tranche of funding from South African commercial banks, with whom the BVI corporation continues discussions.

Also, CIC Energy announced the changes to the BVI company’s board of directors. Dr. Reuel Khoza and Dr. Mandla Gantsho have decided to resign from the board of directors of the company, due to a potential conflict of interest, which arose from their being also the directors of Sasol Limited. With the advancement of the BVI company’s Coal-to-Hydrocarbons project, this double directorship was the potential source of the conflict of interest. Two new directors will be nominated in due course. Mr. Warren Newfield, who was Co-Chairman of CIC Energy with Dr. Khoza, will become the Chairman of CIC Energy, effective immediately.