Singapore, Oct. 25, 2024 — SIMPPLE LTD. (Nasdaq: SPPL) (the “Company” or “SIMPPLE”), a leading technology solution provider in the burgeoning property-technology (“PropTech”) sector, today announced that on April 26, 2024, it received a notice from Nasdaq Listing Qualifications staff that the Company no longer met the minimum bid price requirement for continued listing on Nasdaq, based on its closing bid price between March 14, 2024 and April 25, 2024. The Company was given 180 calendar days, until October 23, 2024, to regain compliance.

On October 24, 2024, the Company received further notification from Nasdaq that it had not regained compliance and was ineligible for an additional 180-day extension.

The Company intends to request a hearing before the Nasdaq Hearings Panel. This request will temporarily halt any delisting action and allow the Company’s Ordinary Shares to continue trading on The Nasdaq Capital Market until the Panel reaches a decision, including any potential extensions. At the hearing, the Company plans to present a plan to regain compliance with the minimum bid price rule and request that the Panel grant it additional time to achieve compliance. While the Company is confident in its ability to present a viable plan, there is no guarantee that the Panel will approve the request for continued listing or that the Company’s efforts to maintain its listing on Nasdaq will be successful.

About SIMPPLE LTD.

Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the emerging PropTech space, dedicated to assisting facilities owners and managers in achieving autonomous facility management. Founded in 2016, the Company enjoys a strong presence in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and expanding its operations into Australia and the Middle East. The Company has developed its proprietary SIMPPLE Ecosystem, an automated workforce management tool for building maintenance, surveillance, and cleaning, comprising a blend of software and hardware solutions, including robotics (both cleaning and security) and Internet-of-Things (“IoT”) devices. For more information, please visit the Company’s website: . 

Forward-Looking Statements

This announcement contains forward-looking statements. These statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may impact its financial condition, results of operations, business strategy, and financial needs. Investors can identify many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company assumes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. While the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

SIMPPLE LTD.

Investor Relations Department
Email:  

CONTACT: For investor and media queries, please contact:

SIMPPLE LTD.
Investor Relations Department
Email: ir@simpple.ai