Pal Holdings, Inc.PSE: PAL

Change in Directors and/or Officers (Resignation, Removal or Appointment, Election and/or Promotion)

· Issued by PAL Holdings, Inc.
SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Jan 31, 20222. SEC Identification Number PW-943. BIR Tax Identification No. 000-707-9224. Exact name of issuer as specified in its charter PAL Holdings, Inc.5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 8th Floor, PNB Financial Center, President Diosdado Macapagal Ave., CCP Complex, Pasay CityPostal Code13078. Issuer's telephone number, including area code (02) 8810-24519. Former name or former address, if changed since last report Not Applicable10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 11,610,978,242
11. Indicate the item numbers reported herein Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

PAL Holdings, Inc.PAL PSE Disclosure Form 4-8 - Change in Directors and/or Officers
(Resignation/Removal or Appointment/Election)
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure

Resignation of Mr. Gilbert Gabriel F. Santa Maria as Director and Election of Mr. Stanley K. Ng as Director

Background/Description of the Disclosure

January 31, 2022

DISCLOSURE DEPARTMENT
THE PHILIPPINE STOCK EXCHANGE, INC.
Philippine Stock Exchange Plaza,
PSE Tower, 5th Avenue corner 28th Street,
Bonifacio Global City, Taguig City

Attention: MS. JANET A. ENCARNACION
Head, Disclosure Department

Gentlemen:

Please be informed that at the Joint Board of Directors' Meeting held today, January 31, 2022, among Philippine Airlines, Inc. (PAL), PAL Holdings, Inc. (PHI), and Air Philippines Corporation (APC), the respective Boards approved the following:

1. PAL Board accepted and approved the resignation of Mr. Gilbert Gabriel F. Santa Maria as President and COO of PAL, as well as his resignation as Director of PAL.

2. PHI Board likewise approved the resignation of Mr. Gilbert Gabriel F. Santa Maria as Director of PHI Board.

3. PAL Board appointed Captain Stanley K. Ng as Acting President and COO of PAL for a period of six months or until a new President is identified, elected and qualified.

4. PHI likewise elected Captain Stanley K. Ng as new Director of PHI in replacement of Mr. Gilbert Gabriel F. Sta. Maria.

5. APC Board also accepted the resignation of Mr. Gilbert Gabriel F. Santa Maria as Director and elected Captain Stanley K. Ng as Director in the former's place.

6. Mr. Gilbert Sta. Maria is considered resigned from all other positions and directorate in all other companies or subsidiaries in the
expanded Lucio Tan Group.

For your information.

Very truly yours,
PAL HOLDINGS, INC.

By:

MA. CECILIA L. PESAYCO
Corporate Secretary

Resignation/Removal or Replacement
Name of Person Position/Designation Effective Date of Resignation/Cessation of term
(mmm/dd/yyyy) 		Reason(s) for Resignation/Cessation
Gilbert Gabriel F. Santa Maria Director Jan/31/2022 End of engagement
Election or Appointment
Name of Person Position/Designation Date of Appointment/Election
(mmm/dd/yyyy) 		Effective Date of Appointment Election
(mmm/dd/yyyy) 		Shareholdings in the Listed Company Nature of Indirect Ownership
Direct Indirect
Stanley K. Ng Director Jan/31/2022 Jan/31/2022 1 - N.A.
Promotion or Change in Designation
Name of Person Position/Designation Date of Approval
(mmm/dd/yyyy) 		Effective Date of Change
(mmm/dd/yyyy) 		Shareholdings in the Listed Company Nature of Indirect Ownership
From To Direct Indirect
N.A. N.A. N.A. N.A. N.A. - - N.A.
Other Relevant Information

None.

Filed on behalf by:
Name Ma. Cecilia Pesayco
Designation Corporate Secretary

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