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SIMPPLE Ltd. Provides Compliance Updates with Nasdaq’s Continued Listing Requirements
Globenewswire· 2025-07-01 16:30
Core Insights - SIMPPLE Ltd. has regained compliance with Nasdaq's minimum shareholders' equity requirement due to strong financial performance and a successful financing round [1][2] - The company believes its shareholders' equity is above the Nasdaq requirement of $2.5 million, aided by a private investment in public equity (PIPE) offering that raised $2,000,001 [2] - SIMPPLE has successfully held its Annual General Meeting (AGM), fulfilling Nasdaq's requirement for annual shareholder meetings [3] Financial Performance - The increase in shareholders' equity is attributed to robust operating performance in the first half of 2025 and the recent PIPE offering [2] - The company projects continued compliance with shareholders' equity requirements by year-end based on internal forecasts [2] Corporate Governance - The AGM was held on June 30, 2025, at 9:00 am Eastern Time, satisfying Nasdaq Listing Rule 5620(a) [3] - The company plans to rely on Cayman Islands home country exemption for future AGM requirements [3] Company Overview - SIMPPLE Ltd. is a technology provider in the facilities management sector, focusing on autonomous management solutions [5] - Founded in 2016 and headquartered in Singapore, the company serves over 60 clients in both public and private sectors, with expansion into Australia and the Middle East [5] - The proprietary SIMPPLE Ecosystem includes software and hardware solutions for building maintenance, surveillance, and cleaning, utilizing robotics and IoT devices [5]