C05172-2020

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)
Jul 23, 2020
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
(632) 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 4-25 - Results of Organizational Meeting References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Results of Organizational Meeting of Board of Directors
Background/Description of the Disclosure

23 July 2020


DISCLOSURE DEPARTMENT
THE PHILIPPINE STOCK EXCHANGE, INC.
Philippine Stock Exchange Plaza,
Ayala Triangle, Ayala Avenue,
Makati City

Attention : Ms. Janet A. Encarnacion
Head, Disclosure Department

Gentlemen:

Please be informed that at the Annual Stockholders’ Meeting of the Company held today, 23 July 2020, via Remote Communication, the Shareholders passed upon and approved the following:

1. Approved the Minutes of the previous Meeting held on 30 May 2019;

2. Approved the Management Report For The Year 2019;

3. Confirmed and Ratified All Acts and Resolutions of the Board of Directors and Management For The Year Ended 31 December 2019;

4. Approved the Amendment of Articles of Incorporation to increase the number of Directors from Nine (9) to Eleven (11);

5. The Election of the following as Directors of the Company, to serve as such for the ensuing year and/or until their successors shall have been elected and qualified:

LUCIO C. TAN - Chairman
CARMEN K. TAN
LUCIO C. TAN III
JOSEPH T. CHUA
RYUHEI MAEDA
GILBERT GABRIEL F. SANTA MARIA
JOHNIP G. CUA - Independent Director
GREGORIO T. YU - Independent Director


6. Appointment of the Auditing Firm Sycip Gorres Velayo & Co. (SGV & Co.) as External Auditor For The Year 2020-2021.

Likewise, at the Organizational Meeting of the Board of Directors held immediately thereafter, the following matters were approved:

1. Election of the following Officers to the positions opposite their names, to serve as such for the ensuing year and/or until their successors shall have been elected and qualified:

LUCIO C. TAN - President, CEO and COO
JUANITA T. TAN LEE - Treasurer
MA. CECILIA L. PESAYCO - Corporate Secretary
SUSAN T. LEE - Chief Finance Officer and Compliance Officer

2. Appointment of Members of the Board to the various committees as follows:

A. EXECUTIVE COMMITTEE
Chairman: Lucio C. Tan
Member: Johnip G. Cua

B. AUDIT AND RISK MANAGEMENT COMMITTEE
Chairman Johnip G. Cua
Members: Lucio C. Tan III
Joseph T. Chua
Gregorio T. Yu

C. NOMINATION COMMITTEE
Chairman: Lucio C. Tan
Members: Carmen K. Tan
Johnip G. Cua

D. CORPORATE GOVERNANCE COMMITTEE
Chairman: Gregorio T. Yu
Members: Ryuhei Maeda
Lucio C. Tan III
Joseph T. Chua

We trust that you will find the foregoing in order.



Very truly yours,
PAL HOLDINGS, INC.
By:

(signed)
MA. CECILIA L. PESAYCO
Corporate Secretary


Noted by:

(signed)
SUSAN T. LEE
Chief Finance Officer and
Compliance Officer
List of elected officers for the ensuing year with their corresponding shareholdings in the Issuer
Name of Person Position/Designation Shareholdings in the Listed Company Nature of Indirect Ownership
Direct Indirect
Lucio C. Tan President, CEO and COO 450 - -
Juanita T. Tan Lee Treasurer - - -
Ma. Cecilia L. Pesayco Corporate Secretary - - -
Susan T. Lee Chief Finance Officer and Compliance Officer - - -
List of Committees and Membership
Name of Committees Members Position/Designation in Committee
Executive Committee Lucio C. Tan Chairman
Executive Committee Johnip G. Cua Member
Audit and Risk Management Committee Johnip G. Cua Chairman
Audit and Risk Management Committee Lucio C. Tan III Member
Audit and Risk Management Committee Joseph T. Chua Member
Audit and Risk Management Committee Gregorio T. Yu Member
Nomination Committee Lucio C. Tan Chairman
Nomination Committee Carmen K. Tan Member
Nomination Committee Johnip G. Cua Member
Corporate Governance Committee Gregorio T. Yu Chairman
Corporate Governance Committee Ryuhei Maeda Member
Corporate Governance Committee Lucio C. Tan III Member
Corporate Governance Committee Joseph T. Chua Member
List of other material resolutions, transactions and corporate actions approved by the Board of Directors

None.
Other Relevant Information

This is to amend in order to reflect two additional members in the Corporate Governance Committee namely, Mr. Lucio C. Tan III and Mr. Joseph T. Chua.
Filed on behalf by:
Name Ma. Cecilia Pesayco
Designation Corporate Secretary