Klea Holding (ex-visiomed) a new hopes :) :)Klea HoldingEURONEXT_DLY:ALKLHHibou68The buyback and cancellation of the PARK BSAs, as well as the overall financial strategy, present several positive aspects for Klea Holding and its shareholders: Reduced dilution: The cancellation of 20,000,652 BSAs (Tranches 3 and 5) and the negotiations for Tranche 4 (22,831,050 BSAs) reduce the risk of creating new shares, protecting the value of existing shares. This is particularly important for a small-cap company like Klea Holding (capitalization of approximately €12.36 million in August 2025), where dilution can have a significant impact on the share price. Positive signal: By repurchasing the warrants at low prices (€0.01 for Tranche 3, €0.08 for Tranche 5), Klea Holding is taking advantage of the low current value of the warrants to limit their future impact, especially for Tranche 4 (strike price of €0.16, close to the current price of ~€0.203). Sufficient cash flow: The transaction is financed by existing cash resources, demonstrating financial strength and independence from external financing (debt or capital increase). This reinforces investors' confidence in Klea's ability to support its growth without immediate financial pressure. The mention of sufficient cash flow to finance growth projects (notably the expansion of Smart Salem and Smart Health) is a reassuring signal. Consistent financial strategy: Capital stability: The share buybacks (announced on August 18 and 25, 2025) and the cancellation of warrants are part of a strategy to reduce the free float, which can support the share price in the medium term by reducing supply. Debt reduction: The target of zero debt by the end of 2026, with the repayment of Smart Salem's debt by September 2025, improves the balance sheet structure and reduces financial expenses, increasing future profitability. Cost streamlining: The reduction in holding company expenses (e.g., administrative costs) is expected to improve EBITDA, as planned for 2025 (+50% in 2024 to €3.3 million). Solid operational performance: The Smart Salem subsidiary posted a 55% increase in tests performed in H1 2025 (+48% in revenue at constant exchange rates), with a record 17,500 tests in January 2025. This momentum supports Klea's ability to generate cash flow to finance operations such as the BSA buyout. Smart Health's expansion in Saudi Arabia and a new investor in the KAFD project strengthen its international growth prospects.