BSA (ASX:BSA) said that it named Sasho Kacevski as its new chief executive and Arjan van Ameyde as its chief financial officer, effective Monday, according to a same-day Australian bourse filing.
Its current joint CEOs, Richard Bartley and Arno Becker, will step down following a leadership transition process. The process, as part of a restructuring, is expected to finish in early August.
BSA revised its financing facility with the Commonwealth Bank of Australia (ASX:CBA) to align with the reduction in working capital requirements.
The base borrowing facility was scaled down to a limit of AU$10 million, from AU$16.5 million previously, for working capital requirements. The guarantee facility was revised down to AU$8.8 million, from AU$16.8 million previously, to support contract performance guarantees and rental bonds.
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