SIMPPLE LTD. Announces Receipt of Nasdaq Staff Determination Letter

Singapore, Oct. 25, 2024 (GLOBE NEWSWIRE) — SIMPPLE LTD. (Nasdaq: SPPL) (the “Firm” or “SIMPPLE”), a sophisticated expertise answer supplier within the rising property-technology (“PropTech”) house, at present introduced that on April 26, 2024, the Firm acquired a letter from the Itemizing {Qualifications} workers of The Nasdaq Inventory Market (“Nasdaq”) notifying the Firm that based mostly on the closing bid worth of the Firm for the interval from March 14, 2024 to April 25, 2024, the Firm not meets the continued itemizing requirement of Nasdaq beneath Nasdaq Itemizing Guidelines 5550(a)(2) (the “Rule”), to keep up a minimal bid worth of $1 per share. The Firm was offered 180 calendar days, or till October 23, 2024, to regain compliance.

On October 24, 2024, the Firm acquired written discover from the Itemizing {Qualifications} Workers of Nasdaq notifying the Firm that, the Firm has not regained compliance with the Rule and was not eligible for a second 180 day interval.

The Firm intends to request a listening to earlier than the Panel. Such a request will keep any delisting motion in reference to the discover and permit the continued itemizing of the Firm’s Atypical Shares on The Nasdaq Capital Market till the Panel renders a call and any extension the panel grants. On the listening to, the Firm intends to current a plan to regain compliance with the Rule and request that the Panel permit the Firm further time inside which to regain compliance. Whereas the Firm believes that it is going to be capable of current a viable plan to regain compliance, there might be no assurance that the Panel will grant the Firm’s request for continued itemizing on The Nasdaq Capital Market, or that the Firm’s plans to train diligent efforts to keep up the itemizing of its widespread inventory on Nasdaq shall be profitable.

About SIMPPLE LTD.

Headquartered in Singapore, SIMPPLE LTD. is a sophisticated expertise answer supplier within the rising PropTech house, centered on serving to amenities house owners and managers handle amenities autonomously. Based in 2016, the Firm has a powerful foothold within the Singapore amenities administration market, serving over 60 shoppers in each the private and non-private sectors and increasing out of Singapore into Australia and the Center East. The Firm has developed its proprietary SIMPPLE Ecosystem, to create an automatic workforce administration device for constructing upkeep, surveillance and cleansing comprised of a mixture of software program and {hardware} options resembling robotics (each cleansing and safety) and Web-of-Issues (“IoT”) gadgets. For extra data, please go to the Firm’s web site: http://www.investor.simpple.ai. 

Ahead-Wanting Statements

Sure statements on this announcement are forward-looking statements. These forward-looking statements contain recognized and unknown dangers and uncertainties and are based mostly on the Firm’s present expectations and projections about future occasions that the Firm believes might have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants. Buyers can discover many (however not all) of those statements by means of phrases resembling “might,” “will,” “anticipate,” “anticipate,” “purpose,” “estimate,” “intend,” “plan,” “consider,” “prone to” or different related expressions. The Firm undertakes no obligation to replace or revise publicly any forward-looking statements to mirror subsequent occurring occasions or circumstances, or modifications in its expectations, besides as could also be required by legislation. Though the Firm believes that the expectations expressed in these forward-looking statements are cheap, it can not guarantee you that such expectations will become right, and the Firm cautions buyers that precise outcomes might differ materially from the anticipated outcomes and encourages buyers to overview different elements that will have an effect on its future leads to the Firm’s registration assertion and different filings with the SEC.

For investor and media inquiries, please contact:

SIMPPLE LTD.

Investor Relations Division
E mail: ir@simpple.ai