SIMPPLE Ltd. Provides Compliance Updates with Nasdaq鈥檚 Continued Listing Requirements
SIMPPLE Ltd. (NASDAQ: SPPL), a technology provider in facilities management, has announced key compliance updates regarding Nasdaq's continued listing requirements. The company believes it has regained compliance with the minimum shareholders' equity requirement by surpassing the $2.5 million threshold, partly due to a successful PIPE offering that raised $2,000,001 in gross proceeds.
The funds will be used to accelerate product development and increase market share in Australia and New Zealand markets. The company expects continued strong financial performance based on robust operating results in H1 2025.
Additionally, SIMPPLE has met Nasdaq's annual meeting requirement by holding its AGM on June 30, 2025. The company plans to rely on Cayman Islands home country exemption for future AGM requirements.
SIMPPLE Ltd. (NASDAQ: SPPL), fornitore tecnologico nel settore della gestione degli immobili, ha annunciato aggiornamenti importanti riguardanti i requisiti di conformit脿 per la quotazione continua al Nasdaq. La societ脿 ritiene di aver ristabilito la conformit脿 al requisito minimo di patrimonio netto degli azionisti superando la soglia di 2,5 milioni di dollari, grazie anche a un'offerta PIPE di successo che ha raccolto 2.000.001 dollari di proventi lordi.
I fondi saranno impiegati per accelerare lo sviluppo del prodotto e aumentare la quota di mercato nei mercati di Australia e Nuova Zelanda. La societ脿 prevede una continua solida performance finanziaria basata su risultati operativi robusti nel primo semestre del 2025.
Inoltre, SIMPPLE ha rispettato il requisito di convocazione dell'assemblea annuale di Nasdaq tenendo la propria AGM il 30 giugno 2025. La societ脿 intende fare affidamento sull'esenzione per paese di origine delle Isole Cayman per i requisiti futuri dell'assemblea annuale.
SIMPPLE Ltd. (NASDAQ: SPPL), proveedor tecnol贸gico en gesti贸n de instalaciones, ha anunciado actualizaciones clave de cumplimiento relacionadas con los requisitos continuos de cotizaci贸n en Nasdaq. La compa帽铆a cree haber recuperado el cumplimiento del requisito m铆nimo de patrimonio neto de los accionistas al superar el umbral de 2,5 millones de d贸lares, en parte gracias a una exitosa oferta PIPE que recaud贸 2.000.001 d贸lares en ingresos brutos.
Los fondos se utilizar谩n para acelerar el desarrollo del producto y aumentar la cuota de mercado en los mercados de Australia y Nueva Zelanda. La compa帽铆a espera un rendimiento financiero s贸lido y continuo basado en resultados operativos robustos en el primer semestre de 2025.
Adem谩s, SIMPPLE ha cumplido con el requisito de reuni贸n anual de Nasdaq realizando su AGM el 30 de junio de 2025. La compa帽铆a planea apoyarse en la exenci贸n del pa铆s de origen de las Islas Caim谩n para los futuros requisitos de AGM.
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SIMPPLE Ltd. (NASDAQ : SPPL), fournisseur technologique dans la gestion des installations, a annonc茅 des mises 脿 jour cl茅s concernant les exigences de maintien de la cotation au Nasdaq. La soci茅t茅 estime avoir retrouv茅 la conformit茅 avec l'exigence minimale de capitaux propres des actionnaires en d茅passant le seuil de 2,5 millions de dollars, en partie gr芒ce 脿 une offre PIPE r茅ussie ayant g茅n茅r茅 2 000 001 dollars de produits bruts.
Les fonds seront utilis茅s pour acc茅l茅rer le d茅veloppement des produits et augmenter la part de march茅 sur les march茅s australien et n茅o-z茅landais. La soci茅t茅 pr茅voit une performance financi猫re solide et continue bas茅e sur des r茅sultats op茅rationnels robustes au premier semestre 2025.
De plus, SIMPPLE a respect茅 l'exigence de tenue de l'assembl茅e g茅n茅rale annuelle du Nasdaq en tenant son AG le 30 juin 2025. La soci茅t茅 pr茅voit de s'appuyer sur l'exemption du pays d'origine des 卯les Ca茂mans pour les exigences futures des AG.
SIMPPLE Ltd. (NASDAQ: SPPL), ein Technologieanbieter im Facility Management, hat wichtige Compliance-Updates bez眉glich der fortlaufenden Notierungsanforderungen der Nasdaq bekannt gegeben. Das Unternehmen ist der Ansicht, dass es die Einhaltung der Mindestanforderung an das Eigenkapital der Aktion盲re wiedererlangt hat, indem es die 2,5-Millionen-Dollar-Grenze 眉berschritten hat, teilweise dank eines erfolgreichen PIPE-Angebots, das 2.000.001 Dollar Bruttoerl枚s einbrachte.
Die Mittel werden verwendet, um die Produktentwicklung zu beschleunigen und den Marktanteil in Australien und Neuseeland zu erh枚hen. Das Unternehmen erwartet weiterhin starke finanzielle Leistungen basierend auf robusten Betriebsergebnissen im ersten Halbjahr 2025.
Dar眉ber hinaus hat SIMPPLE die Nasdaq-Anforderung f眉r die Jahreshauptversammlung erf眉llt, indem die AGM am 30. Juni 2025 abgehalten wurde. Das Unternehmen plant, sich f眉r zuk眉nftige AGM-Anforderungen auf die Heimatsland-Ausnahme der Kaimaninseln zu st眉tzen.
- Successfully raised $2,000,001 through PIPE offering
- Regained compliance with Nasdaq's minimum shareholders' equity requirement
- Reports robust operating performance for first half of 2025
- Successfully held AGM meeting, maintaining listing compliance
- Previous non-compliance with Nasdaq listing requirements indicates past financial challenges
- Company will rely on home country exemption for future AGM requirements, potentially reducing shareholder engagement
Insights
SIMPPLE has likely restored Nasdaq compliance through financing and meeting procedural requirements, preventing potential delisting risks.
SIMPPLE's announcement addresses two critical Nasdaq compliance issues that could have threatened its listing status. The company appears to have successfully addressed the minimum shareholders' equity requirement (Rule 5550(b)(1)) through a combination of operational performance and a strategic
The timing of this announcement is notable - while the company believes it has regained compliance, this isn't yet officially confirmed by Nasdaq. The careful wording suggests regulatory review is still pending. Additionally, the company has satisfied the annual shareholder meeting requirement (Rule 5620(a)) just before the deadline with its June 30 AGM, though it plans to utilize Cayman Islands exemptions for future meetings.
For investors, this represents removal of an existential threat - maintaining Nasdaq listing preserves market access, trading liquidity, and institutional investor eligibility. However, the need for emergency compliance measures may signal underlying financial fragility that warranted monitoring, despite management's optimistic projections about continued compliance through 2025.
Singapore, July 01, 2025 (GLOBE NEWSWIRE) -- SIMPPLE Ltd. (NASDAQ: SPPL) (鈥淪IMPPLE鈥� or 鈥渢he Company鈥�), a leading technology provider and innovator in the facilities management (FM) sector, today announced that it believes it has regained compliance with the minimum shareholders鈥� equity requirement under Nasdaq Listing Rule 5550(b)(1) due to strong financial performance and closing of a financing round, as well as the requirement to hold an annual meeting of shareholders under Nasdaq Listing Rule 5620(a).
Shareholders鈥� Equity Compliance
As of the date of this report, the Company believes its shareholders鈥� equity is above the Nasdaq
Annual General Meeting Compliance
Separately, the Company confirms that it has successfully concluded its Annual General Meeting of Shareholders ("AGM"), which was held at 9:00am Eastern Time, on June 30, 2025. The convening of this AGM satisfies the requirement under Nasdaq Listing Rule 5620(a) to hold an annual meeting of shareholders within the required timeframe. It is, however, also noted that the Company has announced earlier this year that it will rely on Cayman Islands home country exemption with regards to AGM requirements in the future.
The Company will continue to monitor its ongoing compliance with all applicable Nasdaq listing standards and will provide further updates as appropriate.
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.聽
For more information on SIMPPLE, please visit:
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 鈥渕ay,鈥� 鈥渟hould,鈥� 鈥渆xpects,鈥� 鈥渁nticipates,鈥� 鈥渃ontemplates,鈥� 鈥渆stimates,鈥� 鈥渂elieves,鈥� 鈥減lans,鈥� 鈥減rojected,鈥� 鈥減redicts,鈥� 鈥減otential,鈥� or 鈥渉opes鈥� 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 Department Email: [email protected]
FAQ
Has SIMPPLE (NASDAQ:SPPL) regained compliance with Nasdaq listing requirements?
How much did SIMPPLE (NASDAQ:SPPL) raise in its PIPE offering?
What will SIMPPLE (NASDAQ:SPPL) use the PIPE funding for?
When did SIMPPLE (NASDAQ:SPPL) hold its Annual General Meeting?
What is SIMPPLE's (NASDAQ:SPPL) plan for future Annual General Meetings?
