Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 27

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 27
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 in our corporate governance practices in accordance with various SEC and Nasdaq rules. The regulatory
and compliance costs to us under U. S. securities laws if we are required to comply with the reporting requirements applicable to
a U. S. domestic issuer may be significantly higher than the cost we would incur as a foreign private issuer. As a result, we expect
that a loss of foreign private issuer status would increase our legal and financial compliance costs and would make some activities highly
time consuming and costly. We also expect that if we were required to comply with the rules and regulations applicable to U. S. domestic
issuers, it would make it more difficult and expensive for us to obtain and maintain directors and officers liability insurance, and
we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These rules and regulations could
also make it more difficult for us to attract and retain qualified members of our Board of Directors.

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We
may lose our foreign private issuer status in the future, which could result in significant additional costs and expenses.

As
discussed above, we are a foreign private issuer, and therefore, we are not required to comply with all of the periodic disclosure and
current reporting requirements of the Exchange Act. The determination of foreign private issuer status is made annually on the last
business day of an issuer’s most recently completed second fiscal quarter. We would lose our foreign private issuer status
if, for example, more than 50% of our Shares are directly or indirectly held by residents of the United States and we fail to meet
additional requirements necessary to maintain our foreign private issuer status. If we lose our foreign private issuer status on this
date, we will be required to file with the SEC periodic reports and registration statements on U. S. domestic issuer forms, which
are more detailed and extensive than the forms available to a foreign private issuer. We will also have to mandatorily comply with U. S. federal
proxy requirements, and our officers, Directors and Major Shareholders will become subject to the short-swing profit disclosure and recovery
provisions of Section 16 of the Exchange Act. In addition, we will lose our ability to rely upon exemptions from certain corporate
governance requirements under the Nasdaq rules. As a U. S. listed public company that is not a foreign private issuer, we will incur
significant additional legal, accounting and other expenses that we will not incur as a foreign private issuer, and accounting,