Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 29

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 29
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 Cayman Islands. The rights of shareholders to take action against our Directors, actions by our minority
shareholders and the fiduciary duties of our Directors to us under Cayman Islands law are to a large extent governed by the common law
of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent in the Cayman
Islands as well as from the common law of England and Wales, the decisions of whose courts are of persuasive authority, but are not binding,
on a court in the Cayman Islands. The rights of our shareholders and the fiduciary duties of our Directors under Cayman Islands law are
not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States. In particular,
the Cayman Islands have a less developed body of securities laws than the United States. Some U. S. states, such as Delaware, have more
fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition, Cayman Islands companies may
not have standing to initiate a shareholder derivative action in a federal court of the United States.

There
is uncertainty as to whether the courts of the Cayman Islands would:

  recognize or enforce against us                                                                                                    
  entertain original actions brought in each respective                                                                              

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In
addition, there is uncertainty regarding Cayman Islands law related to whether a judgment obtained from the U. S. courts under civil liability
provisions of U. S. securities laws will be determined by the courts of the Cayman Islands as penal or punitive in nature. If such a determination
is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands company, such as our company.
As the courts of the Cayman Islands have yet to rule on making such a determination in relation to judgments obtained from U. S. courts
under civil liability provisions of U. S. securities laws, it is uncertain whether such judgments would be enforceable in the Cayman Islands.

There
is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands
will in certain circumstances recognize and enforce a foreign judgment, without any re-examination or re-litigation of matters adjudicated
upon, provided such judgment:

  (a)      is given by a foreign court of competent jurisdiction;  
  (b)      imposes on the judgment debtor a