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Ryde Discloses Receipt of Notice from NYSE American

1. Ryde has less than US$4 million in stockholder's equity. 2. The company reported losses in three of four recent fiscal years. 3. RYDE must submit a compliance plan by June 20, 2025. 4. Non-compliance may lead to delisting from NYSE American. 5. BUSINESS operations remain unaffected by the listing notice.

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FAQ

Why Bearish?

The non-compliance with listing standards typically signals financial distress, which historically leads to drops in stock prices. Companies in similar situations often experience heightened volatility and investor uncertainty, affecting share price negatively.

How important is it?

The article discusses compliance issues critical to RYDE's listing status, impacting investor sentiment and operational perception. Failures or successes in compliance will directly influence investor behavior and stock price.

Why Short Term?

The urgency of the compliance plan submission creates immediate concerns for investors. Historical cases show that rapid resolutions or failures impact stock price swiftly within months when compliance issues arise.

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Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce headquartered in Singapore, announced that it received notice from the NYSE American LLC ("NYSE American") on May 21, 2025 that the Company was not in compliance with the continued listing standards set forth in Sections 1003(a)(ii) of the NYSE American Company Guide (the "Company Guide"). Section 1003(a)(ii) applies if a listed company has stockholders' equity of less than US$4.0 million and has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Company reported stockholders' surplus of approximately US$2.8 million (S$3.9 million) as of December 31, 2024, and has reported net losses in three of its four most recent fiscal years ended December 31, 2024. The Company is also not currently eligible for any exemption in Section 1003(a) of the Company Guide from the stockholders' equity requirements. As a result, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide and must submit a plan to NYSE American by June 20, 2025 addressing how the Company intends to regain compliance with Section 1003(a)(ii) of the Company Guide by November 21, 2026.The Company intends to timely deliver a plan of compliance to NYSE American. If the Company does not submit a plan, or if the plan the Company submits is not accepted by NYSE American, the Company will be subject to delisting proceedings as specified in the Company Guide. In addition, if the plan is accepted by NYSE American, but the Company is not in compliance with the continued listing standards by November 21, 2026, or if the Company does not make progress consistent with the plan during the plan period, the Company will be subject to delisting proceedings. If the plan is accepted, the Company will also be subject to periodic NYSE American reviews, including quarterly monitoring for compliance with the plan.The Company's Class A voting shares will continue to be listed and trade on the symbol "RYDE" while it attempts to regain compliance with all applicable continued listing standards. Receipt of the notice does not affect the Company's business, operations, financial or liquidity condition, or reporting requirements with the Securities and Exchange Commission.About Ryde Group LtdRyde is a super mobility app founded in Singapore and recognised as the world's FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE American, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.ContactsFor Media Relations: Media TeamRyde Group LtdEmail: [email protected]For Investor Relations: Investor Relations Team Ryde Group Ltd Email: [email protected]Forward-Looking StatementsStatements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and expectations on the timing and completion of the offering. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the final prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.SOURCE: Ryde Group Ltd

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