Kiwi jetpack business Martin Aircraft Company will allow more overseas directors on to its board after a special shareholder meeting last week. Martin Aircraft chairman Jon Mayson said that aside from NZX-listed companies, it was not usually a requirement for New Zealand companies to have more than one director who lived in the country. "The proposed amendment is not inconsistent with usual practice for New Zealand companies," Mayson said. Martin Aircraft listed on the Australian Stock Exchange two years ago hoping the move would bring in new investors. Commercialisation of the Martin Jetpack began in 1998 by its inventor Glenn Martin who has since cut ties with the company.

Source: New Zealand Herald July 03, 2017 02:31 UTC