SPPL News & Events

Simpple announced that it has received notice from Nasdaq notifying the company that the company has regained compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement and annual shareholder meeting requirement, as required by Nasdaq Listing Rules.

SIMPPLE believes it has regained compliance with the minimum shareholders' 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). As of the date of this report, the Company believes its shareholders' equity is above the Nasdaq $2.5M requirement. This increase is partially attributable to the closing of a private investment in public equity offering for total gross proceeds of $2,000,001.00. The objective of this fund raise is to accelerate product development and to increase market share, especially in the Australia and New Zealand markets. In addition, the Company expects to continue strengthening its financial position for the full year, supported by robust operating performance for the first half of 2025. Based on these trends and internal forecasts, the Company projects that it will continue to meet and exceed shareholders' equity requirement by year-end. Separately, the Company confirms that it has successfully concluded its Annual General Meeting of Shareholders, which was held at 9:00am Eastern Time, on June 30. 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.

SIMPPLE announced that the proposed resolutions submitted for shareholder approval have been duly adopted at its Annual General Meeting of Shareholders held on June 30, 2025, at 9:00am Eastern Time. Shareholders of SIMPPLE approved all proposals submitted by the Board of Directors, including the following: The confirmation of Financial Statements of the Company for the year ended December 31, 2024; The appointment of Audit Alliance as the independent auditor of the Company until the next AGM and the fixing of their remuneration to be delegated to the Board of Directors of the Company. All nominated Board of Directors, including Mr. Lee Soon Sze Kelvin as Chairman, were re-elected for a one-year term ending at the conclusion of the 2026 AGM.

SIMPPLE announced that on April 28, 2025, the Company received formal notice from The Nasdaq Stock Market that the Company has regained compliance with Nasdaq Capital Market's continued listing standard for the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share.