a. The Italtile Group shall not trade in Uganda for 2 (two) years
from 16 January 2015;
b. Italtile Ceramics will transfer its 55% shareholding held in
Allmuss to CTM Uganda or its appointed nominee;
8. In the event that CTM Uganda fails to meet its obligations above the
Italtile Group shall be entitled to execute against CTM Uganda for the
amount of US $ 1,650,000.00 by doing the following;
a. Transferring LRV 4293, Folio 9, Plot 26-28 Kibuli Road,
Nsambya into the name of Italtile Ceramics or its nominated
beneficiary; and
b. Transferring CTM Uganda’s 45% shareholding in Allmuss into
the name of the Italtile Ceramics or its nominated beneficiary;
9. Upon execution of this consent, there shall be no further claim by
Italtile Ceramics Limited, Italtile Limited or any company in the
Italtile Group against CTM (U) Limited.
10.
100%
Pursuant to paragraph 9 above, Italtile Ceramics which owns
shares in Italtile Mauritius Limited shall cause Italtile Mauritius
Limited to withdraw Civil Suit No. 800 of 2014 in the High Court of
Uganda Kampala (Commercial Division) with each party meeting its own
costs.
11.
Each party shall bear its own costs of Civil Suit 467 of 2013(
High Court Commercial Division)
4