SIMPPLE Ltd. Comments on Plan to Regain Nasdaq Compliance
SIMPPLE (NASDAQ: SPPL) has announced its plan to regain Nasdaq compliance after failing to maintain the required minimum bid price of $1 per share for 180 days ending October 23, 2024. The company has requested a hearing before the Nasdaq Hearings Panel, allowing its shares to remain listed until a decision is made. SIMPPLE's compliance plan includes implementing a reverse stock split to increase share price. The company reports securing several contracts and partnerships in the past three months and remains fully operational despite the listing challenge.
SIMPPLE (NASDAQ: SPPL) ha annunciato il suo piano per riacquistare la conformità con Nasdaq dopo aver fallito nel mantenere il prezzo minimo richiesto di $1 per azione per 180 giorni, terminanti il 23 ottobre 2024. L'azienda ha richiesto un'udienza presso il Nasdaq Hearings Panel, consentendo alle sue azioni di rimanere quotate fino a quando non verrà presa una decisione. Il piano di conformità di SIMPPLE include l'attuazione di un frazionamento azionario inverso per aumentare il prezzo delle azioni. L'azienda riferisce di aver acquisito diversi contratti e partnership negli ultimi tre mesi e rimane pienamente operativa nonostante la sfida della quotazione.
SIMPPLE (NASDAQ: SPPL) ha anunciado su plan para recuperar la conformidad con Nasdaq después de no haber mantenido el precio mínimo requerido de $1 por acción durante 180 días, que finalizan el 23 de octubre de 2024. La compañía ha solicitado una audiencia ante el Nasdaq Hearings Panel, permitiendo que sus acciones permanezcan listadas hasta que se tome una decisión. El plan de conformidad de SIMPPLE incluye la implementación de un split inverso de acciones para aumentar el precio de las acciones. La empresa informa que ha asegurado varios contratos y asociaciones en los últimos tres meses y permanece completamente operativa a pesar del desafío de la cotización.
SIMPPLE (NASDAQ: SPPL)는 2024년 10월 23일로 종료되는 180일 동안 주당 최소 요구 가격인 $1을 유지하지 못한 후 Nasdaq 규정을 회복하기 위한 계획을 발표했습니다. 이 회사는 Nasdaq Hearings Panel에서의 청문회를 요청했으며, 이에 따라 주식은 결정을 내리기 전까지 상장된 상태로 유지됩니다. SIMPPLE의 준수 계획에는 주가를 높이기 위한 역주식 분할 시행이 포함됩니다. 이 회사는 최근 3개월 동안 여러 계약 및 파트너십을 확보했다고 보고하며, 상장 문제에도 불구하고 완전히 운영되고 있습니다.
SIMPPLE (NASDAQ: SPPL) a annoncé son plan pour retrouver la conformité avec Nasdaq après avoir échoué à maintenir le prix d'offre minimum requis de 1 $ par action pendant 180 jours se terminant le 23 octobre 2024. L'entreprise a demandé une audience devant le Nasdaq Hearings Panel, permettant à ses actions de rester cotées jusqu'à ce qu'une décision soit prise. Le plan de conformité de SIMPPLE comprend la mise en œuvre d'un regroupement d'actions inversé pour augmenter le prix de l'action. L'entreprise rapporte avoir sécurisé plusieurs contrats et partenariats au cours des trois derniers mois et reste pleinement opérationnelle malgré le défi de la cotation.
SIMPPLE (NASDAQ: SPPL) hat seinen Plan zur Wiederherstellung der Nasdaq-Konformität angekündigt, nachdem es versäumt hat, den erforderlichen Mindestgebotspreis von 1 $ pro Aktie für 180 Tage bis zum 23. Oktober 2024 aufrechtzuerhalten. Das Unternehmen hat eine Anhörung beim Nasdaq Hearings Panel beantragt, das es seinen Aktien ermöglicht, bis zur Entscheidungsfindung gelistet zu bleiben. Der Compliance-Plan von SIMPPLE sieht die Durchführung eines Reverse-Split der Aktien vor, um den Aktienkurs zu erhöhen. Das Unternehmen berichtet, dass es in den letzten drei Monaten mehrere Verträge und Partnerschaften gesichert hat und trotz der Listungschallenge voll operativ bleibt.
- Company secured multiple contracts and partnerships in past three months
- Business operations continue normally despite listing challenges
- Failed to maintain $1 minimum bid price requirement for Nasdaq listing
- Company faces potential delisting risk
- Planned reverse stock split indicates share price weakness
Insights
A potential delisting scenario poses significant risks for SIMPPLE The company's failure to maintain the
The micro-cap status (
Historically, companies facing delisting often struggle to maintain their new post-split price levels, leading to a cycle of splits and continued price decline. Investors should exercise extreme caution given these significant regulatory and financial uncertainties.
Singapore, Nov. 05, 2024 (GLOBE NEWSWIRE) -- 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
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 Department
Email: ir@simpple.ai
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Tel: (646) 893-5835
Email: info@skylineccg.com
FAQ
Why did SIMPPLE (SPPL) receive a Nasdaq non-compliance notice?
What is SIMPPLE's (SPPL) plan to regain Nasdaq compliance?
Will SIMPPLE (SPPL) remain listed on Nasdaq during the hearing process?
