Grazziotin S.A. (BOVESPA:CGRA4) announces a share repurchase program. Under the program, the company will repurchase up to 252,500 common shares representing 10% of the company's outstanding common 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 expire on January 20, 2021, 2019. As of September 11, 2020, the company has 2,525,678 outstanding shares.