Mr. Thomas Hector Navasero resigned with effect from December 6, 2019 as Chairman of the Board of Directors of Philab Holdings Corporation. The Board of Directors will shortly convene to appoint an Acting Chairman of the Board and to commence an orderly search process to identify and appoint a successor Chairperson. Mr. Navasero had previously indicated, as disclosed, that he would resign within six months of the AGM on December 16, 2019.