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, 2022

2. SEC Identification Number

PW-94

3. BIR Tax Identification No.

000-707-922

4. Exact name of issuer as specified in its charter

PAL Holdings, Inc.

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

8th Floor, PNB Financial Center, President Diosdado Macapagal Ave., CCP Complex, Pasay City Postal Code 1307

8. Issuer's telephone number, including area code

(02) 8810-2451

9. Former name or former address, if changed since last report

Not Applicable

10. 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.