SIMPPLE LTD. Announces Receipt of Nasdaq Staff Determination Letter

Singapore, October 25, 2024 (GLOBE NEWSWIRE) — SIMPLE LTD. (Nasdaq: SPPL) (the “Firm” or “SIMPPLE”)a supplier of superior expertise options within the rising actual property expertise (“PropTech”) house, right this moment introduced that the Firm acquired a letter from the Itemizing {Qualifications} workers of The Nasdaq Inventory Market (“Nasdaq”) on April 26, 2024 detailing the Firm that, based mostly on the Firm’s closing providing value for the interval from March 14, 2024 to April 25, 2024, the Firm not meets Nasdaq’s continued itemizing necessities beneath Nasdaq Itemizing Guidelines 5550(a)(2) (the “ Rule “), to keep up a minimal bid value of $1 per share. The corporate was given 180 calendar days, or till October 23, 2024, to return to compliance.

On October 24, 2024, the Firm acquired written discover from Nasdaq’s Itemizing {Qualifications} Workers informing the Firm that the Firm has did not adjust to the Rule and was ineligible for a second 180-day interval.

The corporate plans to request a listening to earlier than the panel. Such request will droop any delisting motion associated to the discover and allow the continued itemizing of the Firm’s widespread inventory on the Nasdaq Capital Market till the Panel comes to a decision and any extension the Panel could grant. On the listening to, the Firm intends to current a plan to regain compliance with the Rule and request that the Panel grant the Firm extra time to regain compliance. Though the Firm believes it is going to be in a position to current a viable plan to regain compliance, there may be no assurance that the panel will grant the Firm’s request for continued itemizing on the Nasdaq Capital Market, or that the corporate’s plans to make diligent efforts to keep up the itemizing of its widespread inventory on Nasdaq might be profitable.

About SIMPLE LTD.

SIMPPLE LTD, headquartered in Singapore. is a supplier of superior expertise options within the rising PropTech house, targeted on serving to facility house owners and managers handle amenities autonomously. Based in 2016, the corporate has a robust place within the Singapore facility administration market, serving greater than 60 shoppers in each the private and non-private sectors and increasing from Singapore into Australia and the Center East. The corporate has developed its personal SIMPPLE Ecosystem to create an automatic workforce administration instrument for constructing upkeep, monitoring and cleansing, consisting of a mixture of software program and {hardware} options comparable to robotics (each cleansing and safety) and Web-of-Issues (“IoT”) gadgets. For extra info, please go to the corporate’s web site: http://www.investor.simple.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 could have an effect on its monetary situation, outcomes of operations, enterprise technique and monetary wants. Traders can discover many (however not all) of those statements utilizing phrases comparable to “could,” “will,” “count on,” “anticipate,” “search,” “estimate,” “intend,” “plan ‘, ”imagine”, ‘in all probability’ or different related expressions. The Firm undertakes no obligation to publicly replace or revise any forward-looking statements to mirror subsequent occasions or circumstances or adjustments in expectations, besides as required by regulation. Though the Firm believes that the expectations expressed in these forward-looking statements are cheap, it may give no assurance that such expectations will show to be appropriate. The Firm cautions buyers that precise outcomes could differ materially from these anticipated and encourages buyers to overview different elements that might have an effect on future leads to the Firm’s registration assertion and different filings with the SEC.

For questions from buyers and media, please contact:

SIMPLE LTD.

Investor Relations Division
E-mail: ir@easy.ai