PAL : Results of Organizational Meeting of Board of Directors
May 27, 2022 at 03:10 am EDT
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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) May 26, 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 4-25 - 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 the Organizational Meeting of the Board of Directors
Background/Description of the Disclosure
26 May 2022
DISCLOSURE DEPARTMENT
THE PHILIPPINE STOCK EXCHANGE, INC.
Philippine Stock Exchange Plaza,
Ayala Triangle, Ayala Avenue,
Makati City
Attention: MS. ALEXANDRA D. TOM WONG
OIC-Head, Disclosure Department
Gentlemen:
Please be informed that at the Annual Stockholders' Meeting of the Company held today, 26 May 2022, via Remote Communication, the Shareholders passed upon and approved the following:
1. The Minutes of the Previous Meeting held on 25 November 2021;
2. The Management Report For The Year 2021;
3. Confirmed and Ratified All Acts and Resolutions of the Board of Directors and Management since the 2021 Annual Stockholders' Meeting;
4. 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:
Dr. Lucio C. Tan Chairman
Carmen K. Tan Director
Lucio C. Tan III Director
Sheila T. Pascual Director
Stanley K. Ng Director
Junichiro Miyagawa Director
Johnip G. Cua Independent Director
Jerome S. Tan Independent Director
5. Appointment of the Auditing Firm Sycip Gorres Velayo & Co. (SGV & Co.) as External Auditor For The Year 2022-2023.
Likewise, at the Organizational Meeting of the Board of Directors held immediately thereafter, the following matters were approved:
1. Appointment 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:
Dr. Lucio C. Tan Chairman and CEO
Lucio C. Tan III Vice President
Juanita T. Tan Lee Treasurer
Ma. Cecilia L. Pesayco Corporate Secretary
Susan T. Lee Chief Finance Officer and
Chief Compliance Officer
2. Appointment of Members of the Board to the various committees as follows:
EXECUTIVE COMMITTEE Chairman: DR. LUCIO C. TAN
Members: LUCIO C. TAN III SHEILA T. PASCUAL
STANLEY K. NG
JOHNIP G. CUA
AUDIT AND RISK MANAGEMENT COMMITTEE
Chairman JOHNIP G. CUA
Members LUCIO C. TAN III
SHEILA T. PASCUAL
JEROME S. TAN
COPRORATE GOVERNANCE COMMITTEE Chairman JEROME S. TAN
Members LUCIO C. TAN III
SHEILA T. PASCUAL
JOHNIP G. CUA
NOMINATION AND COMPENSATION COMMITTEE Chairman DR. LUCIO C. TAN
Members: CARMEN K. TAN
SHEILA T. PASCUAL
JOHNIP G. CUA
We trust that you will find the foregoing in order.
Very truly yours,
PAL HOLDINGS, INC.
By:
MA. CECILIA L. PESAYCO
Corporate Secretary
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
Dr. Lucio C. Tan
Chairman and CEO
1,993,726
-
-
Lucio C. Tan III
Vice President
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
Dr. Lucio C. Tan
Chairman
Executive Committee
Lucio C. Tan III
Member
Executive Committee
Sheila T. Pascual
Member
Executive Committee
Johnip G. Cua
Member
Executive Committee
Stanley K. Ng
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
Sheila T. Pascual
Member
Audit and Risk Management Committee
Jerome S. Tan
Member
Corporate Governance Committee
Jerome S. Tan
Chairman
Corporate Governance Committee
Lucio C. Tan III
Member
Corporate Governance Committee
Sheila T. Pascual
Member
Corporate Governance Committee
Johnip G. Cua
Member
Nomination and Compensation Committee
Dr. Lucio C. Tan
Chairman
Nomination and Compensation Committee
Carmen K. Tan
Member
Nomination and Compensation Committee
Johnip G. Cua
Member
Nomination and Compensation Committee
Sheila T. Pascual
Member
List of other material resolutions, transactions and corporate actions approved by the Board of Directors
None.
Other Relevant Information
None.
Filed on behalf by:
Name
Ma. Cecilia Pesayco
Designation
Corporate Secretary
Attachments
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Disclaimer
PAL Holdings Inc. published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 07:07:23 UTC.
PAL Holdings, Inc. is a Philippines-based holding company. The Company is primarily engaged in air transport of passengers and cargo within the Philippines and between the Philippines and several international destinations. The Company operates through its two major subsidiaries: Philippine Airlines, Inc. (PAL) and Air Philippines Corporation (APC). PAL is the national flag carrier of the Philippines, and its principal activity is to provide air transportation for passengers and cargo within and outside the Philippines. PAL route network covers approximately 64 overseas and domestic destinations. Its fleet consists of aircraft such as the Boeing 777 along with the Airbus A350 and A330 for long-haul routes and the A320/A321 family for regional and domestic routes. APC is primarily engaged in the business of air transportation for the carriage of passengers and cargo within and outside the Philippines. APC is doing business under the name and style of Philippine Airlines or PAL Express.