- **Chi Ming Lam**, a non-independent director of Ming Shing Group Holdings Ltd., executed a **secured promissory note** for a **US$1.6 million loan** from Relaxandrinks Limited on October 30, 2025.  **[1956166_0001493152-25-020292_form6-k.htm:1]** **[1956166_0001493152-25-020292_ex99-1.htm:1]** 
- The loan is secured by a pledge of **5,400,000 ordinary shares** of Ming Shing Group Holdings Ltd., which represent approximately **41.62% of the company's voting power**.  **[1956166_0001493152-25-020292_ex99-2.htm:0]** **[1956166_0001493152-25-020292_form6-k.htm:1]** 
- The note accrues interest at a rate of **12% per annum** and has a **maturity date** of the earlier of **six months** from October 30, 2025, or an accelerated maturity date.  **[1956166_0001493152-25-020292_form6-k.htm:1]** **[1956166_0001493152-25-020292_ex99-1.htm:1]** 
- Relaxandrinks Limited holds a **Special Enforcement Right** to acquire the pledged shares in lieu of cash repayment, which could result in Mr. Lam ceasing to be a majority shareholder and potentially lead to a **change of control** of Ming Shing Group Holdings Ltd..  **[1956166_0001493152-25-020292_form6-k.htm:1]** **[1956166_0001493152-25-020292_ex99-1.htm:1]**

Ming Shing Group Holdings (MSW)