The Board of Directors of SBM Holdings Ltd. announced that its shareholders and the public in general that, following a review of the Group's operations and franchise performance across all geographies where it is present and, in light of the impact of the Covid-19 pandemic on its business, the decision was taken to exit from the Seychelles. Following the approval of the Central Bank of Seychelles, SBM Bank Limited will soon surrender its banking license and will cease its activities. In the meantime, the banking operations will continue as normal and the effective date of cessation of activities will be communicated at a later stage.