Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 15

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 15
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 be required to include an attestation report on internal controls over financial reporting issued by our Independent
Registered Public Accounting Firm. During our evaluation of our internal controls, if we identify one or more material weaknesses
in our internal controls over financial reporting, we will be unable to assert that our internal controls over financial reporting are
effective. We cannot assure you that there will not be material weaknesses or significant deficiencies in our internal controls over
financial reporting in the future. Any failure to maintain internal controls over financial reporting could severely inhibit our ability
to accurately report our financial condition, or results of operations.

We
do not expect to be subject to certain Nasdaq corporate governance rules applicable to U. S. listed companies.

As
a foreign private issuer, we are entitled to rely on a provision in Nasdaq’s corporate governance rules that allows us to follow
Cayman Islands corporate law with regards to certain aspects of corporate governance. This allows us to follow certain corporate governance
practices that differ in significant respects from the corporate governance requirements applicable to U. S. companies listed on
Nasdaq.

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In
addition, our Audit Committee is not subject to additional Nasdaq requirements applicable to listed U. S. companies, including an
affirmative determination that all members of the Audit Committee are “independent,” using more stringent criteria than those
applicable to the Company under relevant SEC rules. Nasdaq’s corporate governance rules require listed U. S. companies to,
among other things, seek shareholder approval for the implementation of certain equity compensation plans and issuances of shares, which
the Company is not required to follow as a foreign private issuer. However, we have a majority of independent Directors and our Audit
Committee consists of three independent Directors.

Negative
publicity relating to our Group or our Directors, Executive Officers or Major Shareholders may materially and adversely affect our reputation
and Share price.

Negative
publicity or announcements relating to our Group or any of our Directors, Executive Officers or Major Shareholders, whether with or without
merit, may materially and adversely affect the reputation and goodwill of our Group in our industry, consequently affecting our relationships
with our customers, suppliers and sub-contractors. In addition, such negative publicity may affect market perception of our Group and
the performance of our Share price.

Negative
publicity or announcements may include, among others, newspaper reports of accidents at our work sites, unsuccessful attempts in joint
ventures, acquisitions or take-overs