Ryde Group Ltd, a leading technology platform for mobility and quick commerce, announced that it has received a notice from NYSE American LLC regarding non-compliance with listing standards. As of December 31, 2024, the company reported stockholders' equity of approximately US$2.8 million, falling short of the US$4.0 million requirement, and has recorded net losses in three of its last four fiscal years. Ryde must submit a compliance plan by June 20, 2025, to address this issue, with a deadline to regain compliance by November 21, 2026. The company's shares will continue to trade under the symbol "RYDE" during this period. Failure to submit an acceptable plan or meet compliance standards could lead to delisting proceedings.
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