Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 21

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 21
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 be difficult for investors to enforce liabilities
based upon U. S. securities laws.

There
is no treaty between the United States and Singapore providing for the reciprocal recognition and enforcement of judgments in civil and
commercial matters and a final judgment for the payment of money rendered by any federal or state court in the United States based on
civil liability, whether or not predicated solely upon the federal securities laws, would, therefore, not be automatically enforceable
in Singapore. It is not clear whether a Singapore court may impose civil liability on our Directors and officers who reside in Singapore
in an action brought in the Singapore courts against such persons with respect to a violation solely of the federal securities laws of
the United States.

Accordingly,
there can be no assurance that the Singapore courts would enforce against us, our Directors or our Executive Officers, judgments obtained
in the United States which are predicated upon the civil liability provisions of the federal securities laws of the United States.

  16  

  Table of Contents  

As
we are not a “controlled company” within the meaning of the Nasdaq Listing Rules and, as a result, we have to comply with
the corporate governance requirements that provide protection to shareholders of other companies.

As
such, we have a majority of independent directors and our Audit Committee consist of three independent directors.

As
at the date of this report, our Shares are trading under $5.00 per share and thus is known as “penny stock”. Trading in penny
stocks has certain restrictions and these restrictions could continue to negatively affect the price and liquidity of our Shares.

As
of the date of this report, our Shares are trading below $5.00 per share. As a result, our Shares are known as “penny stock”,
which is subject to various regulations involving disclosures to be given to you prior to the purchase of any penny stock. The SEC has
adopted regulations which generally define a “penny stock” to be any equity security that has a market price of less than
$5.00 per share, subject to certain exceptions. Depending on market fluctuations, our Shares could be considered to be “penny stock”.
A penny stock is subject to rules that impose additional sales practice requirements on broker/dealers who sell these securities to persons
other than accredited investors. For transactions covered by these rules, the broker/dealer must make a special suitability determination
for the purchase of these securities. In addition, a broker/dealer must receive the purchaser’s written consent to the transaction