With 93 per cent of Nautronix's issued capital, First Tech is now entitled to compulsory acquisition of the remaining shares of the Fremantle-based company.

First Tech told the market that during this review, the board will include Sir Ian Suttie with sidekick Mark Patterson taking on the role of Nautronix's chief executive officer. Other members of the board will include Ross Stuart and Charles Morgan, also of West Oil and Nido Petroleum, while Anthony Taylor, current non-executive director, will step down.

Alan Tribe will also step down from his position as director and CEO of Nautronix.