Grazziotin S.A. announces an Equity Buyback for 255,900 shares, representing 9.99% of its issued share capital.
August 15, 2019
Share
Grazziotin S.A. (BOVESPA:CGRA4) announces a share repurchase program. Under the program, the company will repurchase up to 255,900 common shares representing 9.99% of the company's outstanding common shares and 849,700 preferred shares representing 9.99% of the company's outstanding preferred shares. The shares repurchased will be held in treasury and further cancelled or sold without capital reduction. The repurchase will funded from the funds available in the revenues reserves account. The purpose of the program is to increase the generation of value to its shareholders. The program will run until December 13, 2019. As at August 16, 2019, the company has 11,057,306 outstanding shares, of which 2,559,573 are common shares and 8,497,733 are preferred shares.
Grazziotin SA is a Brazil-based company mainly active in the retail business. The Company sells clothes, shoes, accessories and home furnishing, among others. It is active in Brazilian states of Rio Grande do Sul, Parana and Santa Catarina. As of December 31, 2011, Grazziotin SA operated 283 stores divided into four networks of stores. Department stores Grazziotin sell clothes, footwear and perfumes. Stores Tottal specialize in leisure products and home furnishing. The chain Pormenos consists of self-service clothes retail stores. The chain Franco Giorgi has its own brand and specializes in menâs fashion. As of December 31, 2011, the Company had three direct subsidiaries: Centro Shopping Empreendimentos e Participacoes Ltda, which is engaged in the administration of the Shopping Center in the city of Porto Alegre; Grato Agropecuaria Ltda, which is active in the cattle raising and planting of soybean and corn, and Trevi Participacoes Ltda active in financial sector.
GRAZZIOTIN S.A. 
