C03515-2023

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 5, 2023
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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Material Information
Background/Description of the Disclosure

05 May 2023


DISCLOSURE DEPARTMENT
The Philippine Stock Exchange, Inc.
Philippine Stock Exchange Plaza,
PSE Tower, 5th Avenue cor. 28th Street,
Bonifacio Global City, Taguig City


Attention: MS. ALEXANDRA D. TOM WONG
Head, Disclosure Department

Re: Grant of Request for Exemptive Relief from the requirement under Rule 68 of the Revised Securities Regulation Code


We write to inform the Exchange that PAL Holdings, Inc. (the “Company”) received today, 05 May 2023, a letter from the Securities and Exchange Commission, Markets and Securities Regulation Department (“SEC MSRD”) dated 04 May 2023 (“Letter”), directing the Company to disclose the approval of its request for exemptive relief. In accordance with the Letter, the SEC MSRD has granted the request of the Company for exemptive relief from the requirement under Rule 68 of the Revised Securities Regulation Code (“Revised SRC Rule 68”) that the consolidated financial statements be included in the filing of the Company’s Definitive Information Statement (“DIS”).

The SEC MSRD found merit in the Company’s justification that the 2023 Q1 reports will not be available by the time of the filing of the DIS and the mandated dissemination of the DIS by 27 April 2023, since the 2023 Q1 Report has not yet been presented to the Audit Committee and the Board of Directors. They also recognized that the deadline for the filing of the 2023 Q1 Reports is on 15 May 2023, and that the Company was obliged to apply for an extension to avoid any violation of the applicable laws and regulations, and ensure that the Company will be able to distribute the DIS within the period required by the by-laws, the 2015 SRC IRR, and the Manual of Corporate Governance. Moreover, the SEC MSRD took note of the Company’s undertaking to post and make available on its website, a copy of the Company’s 2023 Q1 Reports, no later than five (5) days before the 2023 Annual Stockholders Meeting, or on or before 20 May 2023.

For your information.
Other Relevant Information

None.
Filed on behalf by:
Name Ma. Cecilia Pesayco
Designation Corporate Secretary