SIMPPLE Ltd. Comments on Plan to Regain Nasdaq Compliance
05 Novembro 2024 - 10:30AM
SIMPPLE Ltd. (NASDAQ: SPPL) (“SIMPPLE” or
“the Company”), a leading technology provider and
innovator in the facilities management sector, today announced
details of its plan to regain compliance on the Nasdaq.
On October 25, 2024, SIMPPLE announced it had,
on the previous day, received written notice from the Listing
Qualifications Staff of Nasdaq stating that the Company had not
regained compliance with Nasdaq Listing Rules 5550(a)(2) (“the
Rule”) to maintain a minimum bid price of $1 per share for the
180-day period culminating on October 23, 2024, and was thus not
eligible for a second 180-day period.
In that same announcement of October 25, SIMPPLE
also said it intended to request a hearing before the Nasdaq
Hearings Panel, during which the Company would present its plan to
regain compliance with the above-listed Rule and ask for additional
time within which to regain this compliance.
On October 31, SIMPPLE filed this request, which
allows the Company’s ordinary shares to remain listed on the Nasdaq
Capital Market until such time as Nasdaq renders a decision, and
offers any extension, in connection with this
hearing.
The Company plans to regain compliance includes
effecting a reverse stock split aimed at increasing the Company’s
share price to meet Nasdaq’s listing standards. In the meantime,
however, SIMPPLE remains fully operational, with day-to-day
business activities proceeding as usual.
During the past three months, SIMPPLE has been
able to secure several contracts and partnership agreements to
further demonstrate commercial success in the market. While these
announcements, and other such announcements that the Company may
make in the near future cannot guarantee a specific upwards
movement in the price of its common shares, SIMPPLE is confident
such achievements underscore the strength of its business and
market position, and the scope of the Company’s future business
opportunities.
“We are committed to maintaining our Nasdaq
listing and are actively pursuing the necessary steps to regain
compliance with Nasdaq’s minimum bid price requirement,” said
SIMPPLE chief executive Norman Schroeder. “We look forward to
providing further updates on this compliance process, and on the
numerous business opportunities we believe will have a positive
impact on our long-term growth and financial health.”
About SIMPPLE LTD.
Headquartered in Singapore, SIMPPLE LTD. is an
advanced technology solution provider in the emerging PropTech
space, focused on helping facilities owners and managers manage
facilities autonomously. Founded in 2016, the Company has a strong
foothold in the Singapore facilities management market, serving
over 60 clients in both the public and private sectors and
extending out of Singapore into Australia and the Middle East. The
Company has developed its proprietary SIMPPLE Ecosystem, to create
an automated workforce management tool for building maintenance,
surveillance and cleaning comprised of a mix of software and
hardware solutions such as robotics (both cleaning and security)
and Internet-of-Things (“IoT”) devices.
For more information on SIMPPLE, please visit:
https://www.simpple.ai
Safe Harbor Statement
This press release contains forward-looking
statements. In addition, from time to time, we or our
representatives may make forward-looking statements orally or in
writing. We base these forward-looking statements on our
expectations and projections about future events, which we derive
from the information currently available to us. Such
forward-looking statements relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by those
that are not historical in nature, particularly those that use
terminology such as “may,” “should,” “expects,” “anticipates,”
“contemplates,” “estimates,” “believes,” “plans,” “projected,”
“predicts,” “potential,” or “hopes” or the negative of these or
similar terms. In evaluating these forward-looking statements, you
should consider various factors, including: our ability to change
the direction of the Company; our ability to keep pace with new
technology and changing market needs; and the competitive
environment of our business. These and other factors may cause our
actual results to differ materially from any forward-looking
statement.
Forward-looking statements are only predictions.
The forward-looking events discussed in this press release and
other statements made from time to time by us or our
representatives, may not occur, and actual events and results may
differ materially and are subject to risks, uncertainties, and
assumptions about us. We are not obligated to publicly update or
revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this press release and other statements made from time to time
by us or our representatives might not occur.
For investor and media queries, please
contact:
SIMPPLE LTD.Investor Relations
DepartmentEmail: ir@simpple.ai
Skyline Corporate Communications Group,
LLCScott Powell, President1177 Avenue of the Americas, 5th
FloorNew York, NY 10036Tel: (646) 893-5835Email:
info@skylineccg.com
For investor and media queries, please contact:
SIMPPLE LTD.
Investor Relations Department
Email: ir@simpple.ai
SKYLINE CORPORATE COMMUNICATIONS GROUP, LLC
Scott Powell
President
Email: info@skylineccg.com
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