Simpple Ltd Provides Update On New Leadership Initiatives And Progress

Reuters

Singapore, Aug. 05, 2024 (GLOBE NEWSWIRE) --

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SIMPPLE Ltd Provides Update on New Leadership Initiatives and Progress

Singapore, August 5, 2024 – SIMPPLE Ltd (Nasdaq: SPPL) (“SIMPPLE” or “the Company”), a leading innovator in the facilities management technology sector, today provided a corporate update on the initiatives and progress led by recently appointed chief executive officer Norman Schroeder and chief financial officer Sovik Bromha, who assumed their posts in February and March 2024, respectively, as part of the company’s strategic growth plan.

Mr. Schroeder, who had been serving SIMPPLE as an independent director, left that post to become the company’s new CEO and executive director on February 1, replacing Aloysius Chong, who, after holding those positions for seven years, resigned them to assume a product development and marketing role with SPPL’s Australian subsidiary. Mr. Schroeder’s vacancy as independent director was filled by Longjin Guo, a legal and compliance expert.

Mr. Bromha was appointed CFO effective March 1, replacing Chan Sok Fung, who resigned to seek alternative opportunities.

Under Mr. Schroeder’s leadership, SIMPPLE has embarked on a comprehensive strategy to implement various organizational changes designed to accelerate the Company’s business growth. This strategy, said the CEO, has to date produced the following achievements:

Establishment of operations and joint venture partnerships in Australia, New Zealand, Malaysia, Thailand, Hong Kong, and Qatar, with five leading managerial appointments in Australia and New Zealand.
Development and implementation of AI- powered environmental, social and governance (ESG) auditing and reporting capabilities into SIMPPLE’s platform, and signing of joint venture agreement with an EU-based partner to further develop and market this solution to defined EU standards.
Signing of multiple service, maintenance, software and robotic contracts for deployment at various sites including a Singapore airport and train station facilities.
Implementation of rigorous financial analysis and strategic cost management initiatives to improve the company’s financial stability and performance.
Recruitment of key professional talent to augment the Company’s technology resources and market presence.
Engagement with major Company shareholders, investors, customers, and employees to strengthen SPPL’s foundation for future growth,
Integration of critical AI-powered facilities management software into SIMPPLE’s end-to-end ecosystem.
Development of an AI-powered system upgrade that can be retrofitted to existing CCTV installations and automates robotic response cleaning and security operations.
Development and patenting of a modular AI-powered security ‘head’ that can be retrofitted to existing cleaning robots. Successful sale of 10 units of ‘2-in-1’ security and cleaning robots to various facilities in Singapore.
Re-signing of distribution agreement with leading robotic manufacturer, Gausium.
Signing of MOU with Kepler Exploration Robotics to mutually develop AI-powered intelligence for that company’s Humanoid Robot
Partnering with two leading global facilities management companies to provide end-to-end technology solutions incorporating robotics, Internet of Things (IoT), and software at multiple facilities.
Partnering with a Texas-based facilities management company to deliver an end-to-end technology solution for deployment at its remote mining sites and camp operations.
Successful attainment of ISO 27001 Cyber Security Certification
Deployment of first multifunctional robot (security, cleaning, and concierge) as part of Singapore’s Advanced Digital Grants Scheme.

"We are thrilled with the progress SIMPPLE has made in the last six months,” said Chairman of the Board Kelvin Lee. “By prioritizing operational efficiency, streamlining workflows and implementing best practices across the organization, we have significantly improved productivity and forged key agreements that will make an accelerating contribution to our revenue base starting in the second half of the current fiscal year, as we continue to invest in our growth objectives.

"Our reinvigorated strategic vision, and renewed technology resources and marketing proficiency have driven our company forward into its next chapter of growth. We are confident that, under the leadership of Norman Schroeder and Sovik Bromha, SIMPPLE will continue to drive revenue growth while delivering sustainable value to our shareholders and customers.

“We look forward to sharing more exciting developments in the coming months.”

Mr. Schroeder added, "I’m honored to be leading SIMPPLE and building upon the strong foundation laid by our former CEO. As we continue to invest in our Company’s integrated facilities management solutions and proprietary AI technology platforms, I believe SIMPPLE is well prepared to further scale and diversify its product and service offerings to meet the ever increasing demands within the facilities management sectors globally.”

Before joining SIMPPLE, Mr. Schroeder served as strategic development manager at OCS, a global facilities services business with 8,000 customers across the UK, Europe, APAC and Middle East regions. For the six years prior, he held a number of senior positions culminating in CEO at Trident Services Australia, a provider of technology platform service solutions for government, commercial premises, retail precincts, airports, major events, and parklands. Mr. Schroeder has also held top management positions with such companies as SECUREcorp, Spotless Group, Gate Gourmet, and Cathay Pacific Airways.

Mr. Bromha, who has over 35 years experience in the finance sector, most recently served as CFO of JobShine Pte Ltd, a Singapore-based job portal, and COO of Jozef Pte Limited, a financial consultancy. From 2013 to 2021, he was director of finance at Red Hat India Pvt. Ltd., and for the two years prior served as budget controller at Newtel Corporation, a subsidiary of Spice Group of India in Bangkok. He has also held financial positions at Ness Global Services Pte Ltd.. and from 1988 through 2006 held a series of ascending financial positions at NIIT Limited. He holds an MBA in finance from Amity University, India.

Longjin Guo has over 15 years of legal and compliance experience and currently serves as head of legal and external affairs at the Singapore headquarters of YSQ International Pte Ltd, a global multinational company focused on technological investment, financial services, merger & acquisition, asset management, and intellectual property. He holds a Bachelor of Laws from the National University of Singapore, a Master of Business Administration from Singapore Management University and a Master of Public Administration (Chinese) from Nanyang Technological University.

About SIMPPLE LTD.

Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the integrated facilities management space, focused on helping facilities owners and managers manage facilities autonomously. Founded in 2016, the Company has a strong foothold in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and extending out of Singapore into Australia and the Middle East. The Company has developed its proprietary SIMPPLE ecosystem to create an automated workforce management tool for building maintenance, surveillance and cleaning comprised of a mix of software and hardware solutions such as robotics (both cleaning and security) and Internet-of-Things (“IoT”) devices. For more information, please visit the Company’s website: www.investor.simpple.ai.

Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.

For investor and media inquiries, please contact:

SIMPPLE LTD.Investor Relations DepartmentEmail: ir@simpple.ai

Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, NY 10036Tel: (646) 893-5835Email: info@skylineccg.com

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Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday

InvestorPlace

Spectaire Holdings

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Spectaire Holdings, Inc. Warrant

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Trinity Place Holdings

It’s time to start the final day of trading this week with a breakdown of the biggest pre-market stock movers for Friday morning!

Moving stocks are a bankruptcy filing, regulator approval, a public offering and more.

Let’s get into that news below!

Biggest Pre-Market Stock Movers: 10 Top Gainers

Spectaire stock is rocketing more than 111% on letter, settlement and asset purchase agreements.
Trinity Place shares are soaring over 52% with heavy pre-market trading today.
DermTech stock is surging more than 45% despite a recent bankruptcy filing.
Sarepta Therapeutics shares are gaining over 37% on expanded regulator approval.
Kintara Therapeutics stock is increasing 27% with strong early morning trading.
Qualigen Therapeutics shares are rising more than 16% with heavy trading today.
Unusual Machines stock is climbing close to 16% despite a lack of news today.
Simpple shares are jumping nearly 15% without any clear news today.
Lion Group stock is heading over 13% higher on Friday morning.
Solid Biosciences shares are up more than 13% without any news to report.

10 Top Losers

Abacus Life stock is diving over 23% after pricing a public offering.
Psyence Biomedical shares are tumbling 20% on Friday morning.
Professional Diversity stock is taking a more than 18% beating with strong early morning trading.
Kaival Brands Innovations shares are sliding over 17% on Friday morning.
QXO stock is dropping 16% today.
Reliance Global shares are falling more than 15% after a recent rally.
MGO Global stock is retreating over 14% following a rally yesterday.
Cyclerion Therapeutics shares are decreasing 14% this morning.
Perfect stock is slipping more than 12% today.
Scinai Immunotherapeutics shares close out our pre-market stock movers down over 11% today.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Simpple Ltd. Announces Receipt Of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

Reuters

Simpple

+10.42%

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Why Asana Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Benzinga

Shares of Asana, Inc. fell sharply during Tuesday’s session following soft FY25 revenue guidance.

Asana reported quarterly losses of 4 cents per share which beat the analyst consensus estimate of losses of 10 cents by 60%. Quarterly sales came in at $171.1 million, beating the analyst consensus estimate of $167.676 million by 2.04%.

The company expects fiscal year 2025 adjusted losses of between 22 cents and 19 cents per share, versus the losses of 22 cents estimate and fiscal year revenues of between $716 million and $722 million, versus the $724.75 estimate.

Asana shares dipped 11% to $16.72 on Tuesday.

Here are some other stocks moving in today's mid-day session.

Gainers

ClearOne, Inc. rose 168.4% to $2.4299. ClearOne announced a special one-time cash dividend of 50 cents per share.
Regulus Therapeutics Inc. climbed 74.3% to $2.4050 after the company announced topline results from the second cohort of patients in its Phase 1b MAD study of RGLS8429 for the treatment of ADPKD. The company announced an oversubscribed $100 million private placement of equity.
Assure Holdings Corp. gained 49% to $0.4880. Assure Holdings entered into an agreement to sell certain of its assets to MPOWERHealth for up to $4.5 million.
Ranpak Holdings Corp. shares gained 40.1% to $6.12 after the company reported better-than-expected fourth-quarter revenue results and issued FY24 guidance. Also, Baird maintained an Outperform rating on the stock and raised its price target from $5 to $7.
Singularity Future Technology Ltd. climbed 37.6% to $4.3321 after gaining over 6% on Monday.
Li-Cycle Holdings Corp. gained 27.4% to $0.5111 after the company entered an agreement to issue a senior secured convertible note in an aggregate principal amount of $75 million to an affiliate of Glencore.
Nukkleus Inc. shares rose 22.5% to $1.41 after surging over 43% on Monday.
ATRenew Inc. gained 17.7% to $1.4003 after the company reported fourth-quarter results and announced a $20 million share repurchase program.
Lucas GC Limited climbed 17.4% to $3.5099.
The Beachbody Company, Inc. gained 16.7% to $10.60 after the company reported better-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance.
Assertio Holdings, Inc. rose 15.6% to $1.08 following fourth-quarter earnings.
Kanzhun Limited gained 14.8% to $20.10 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. The company approved a $200 million share buyback.
Heritage Insurance Holdings, Inc. shares gained 13.4% to $8.11 following better-than-expected fourth-quarter results.
Datasea Inc. gained 13.3% to $9.12.
Mission Produce, Inc. surged 12% to $11.98 following upbeat quarterly results.
Talkspace, Inc. jumped 11.3% to $3.25.
Bioventus Inc. gained 11.2% to $5.91 after the company reported better-than-expected fourth-quarter financial results and issued FY24 net sales guidance above estimates.
Bowman Consulting Group Ltd. gained 11% to $37.33 following strong quarterly results.
Oracle Corporation rose 10.5% to $126.09 after the company reported upbeat earnings for its fiscal third quarter.
Archer-Daniels-Midland Company jumped 5% to $57.63 after the company reported fourth-quarter financial results and issued FY24 guidance. Also, the company authorized the purchase an additional $2 billion of shares under its existing share repurchase program.
MINISO Group Holding Limited shares gained 3% to $18.45 after posting stronger-than-expected quarterly earnings.

Losers

BYND Cannasoft Enterprises Inc. shares fell 71.5% to $0.0285 after the company announced pricing of $7.0 million underwritten public offering.
Simpple Ltd. dipped 40.4% to $3.38.
Blade Air Mobility, Inc.. fell 30.2% to $2.7850 after the company reported worse-than-expected fourth-quarter revenue results and issued FY24 revenue guidance below estimates.
Lexaria Bioscience Corp. dipped 29.9% to $4.3787.
Jeffs' Brands Ltd fell 29% to $0.4412.
NRx Pharmaceuticals, Inc. fell 28.3% to $0.48. NRx Pharmaceuticals initiated a strategy to combat short sellers in the company's stock.
Vincerx Pharma, Inc. fell 26.6% to $5.92.
Solidion Technology Inc. fell 25.2% to $1.3093 after jumping 124% on Monday.
Caribou Biosciences, Inc. fell 24.6% to $5.44 after the company reported worse-than-expected fourth-quarter financial results.
Renalytix Plc fell 23.3% to $0.8732 after gaining around 5% on Monday. Renalytix recently received an unsolicited acquisition approach from a large, publicly-listed strategic diagnostics company and is evaluating an acquisition of the entire issued, and to be issued, the share capital of the company.
Nauticus Robotics, Inc. dipped 23% to $0.1820.
Presto Automation Inc. declined 22.7% to $0.2002.
Psyence Biomedical Ltd. fell 21.4% to $1.3900.
Canoo Inc. declined 21.4% to $1.41.
SolarMax Technology, Inc. declined 18.6% to $7.08.
Geron Corporation fell 17.5% to $1.7650 after FDA staff reviewers reportedly said treatment with the company's anemia drug Imetelstat is associated with risks that might be considered substantial.
Aeva Technologies, Inc. dipped 16.7% to $1.0827.
ACADIA Pharmaceuticals Inc fell 15.8% to $20.31 after the company reported the Phase 3 ADVANCE-2 trial evaluating pimavanserin for the treatment of negative symptoms of schizophrenia did not meet the primary endpoint.
Finch Therapeutics Group, Inc. dipped 14.9% to $2.91 after jumping over 36% on Monday.
Southwest Airlines Co. fell 14.5% to $28.88. Southwest Airlines said it sees first quarter 2024 RASM to be flat to up 2%, significantly lower than the prior estimate of up 2.5% to 4.5%.
CytomX Therapeutics, Inc. shares dipped 14.3% to $2.14 following fourth-quarter results.
On Holding AG fell 13.7% to $29.01 after the company reported worse-than-expected quarterly financial results.
ESGL Holdings Limited fell 13.4% to $0.5610.
Safe and Green Development Corporation declined 11.6% to $1.0250 after falling over 6% on Monday.
Kidpik Corp. shares tumbled 11.1% to $4.3314 after surging 80% on Monday.
Janux Therapeutics, Inc. declined 8.2% to $36.70.
Enphase Energy, Inc. fell 5.7% to $121.41.
Ocular Therapeutix, Inc. shares fell 4.9% to $9.26 after the company reported worse-than-expected fourth-quarter financial results.

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Sector Update: Tech Stocks Declining Late Afternoon

MT Newswires

Advanced Micro Devices

Tech stocks were lower late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 2% and the Philadelphia Semiconductor index down 3.1%.

In corporate news, Simpple shares gained 6.5%. The company said Friday it closed its initial public offering of 1.6 million ordinary shares at $5.25 per share for gross proceeds of $8.4 million.

Adobe shares were shedding 4.4%, adding to Thursday's losses, after it beat Q3 expectations but issued unimpressive guidance for Q4 and indicated that AI price hikes would take longer than expected to be reflected in the company's bottom line.

The semiconductor sector was on the defensive as Taiwan Semiconductor's (TSM) request for suppliers to delay delivery of chipmaking equipment underscored concerns about slowing demand for chips. Shares of Advanced Micro Devices , Applied Materials , Nvidia , and Broadcom were all lower in sympathy.

Samsara was down 3.4% after it was disclosed that Chief Technology Officer John Bicket sold shares in the company.

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Sector Update: Tech

MT Newswires

Simpple

+10.42%

Tech stocks were lower late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 2% and the Philadelphia Semiconductor index down 3.1%.

In corporate news, Simpple shares gained 8.3%. The company said Friday it closed its initial public offering of 1.6 million ordinary shares at $5.25 per share for gross proceeds of $8.4 million.

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Simpple Closes $8.4 Million IPO

MT Newswires

Simpple

+10.42%

Simpple said Friday it closed its initial public offering of 1.6 million ordinary shares at $5.25 per share for gross proceeds of $8.4 million.

Simpple's shares began trading on Wednesday under the ticker SPPL.

The Singapore-based technology company said it granted the underwriters a 45-day option to buy up to an additional 240,300 shares at the public offering price.

Net proceeds will be used for research and development, global sales and marketing expansion, satellite office openings, potential acquisitions, strategic investments and general corporate purposes, the company said.

The company's shares rose 7.9% in recent Friday trading.

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