Minority shareholders in private companies have limited rights. There is no right to access to anything more than the most basic information unless granted in the constitution or shareholders agreement.
Directors have very broad powers but must act in the interests of the company. They must comply with the Corps Act and common law, relevantly a body of law known as "oppression of the minorities" ( Foss v Harbottle). Enforcing this is nigh on impossible.
Suggest you tell the directors you want to offer the shares to the existing shareholders at a price you nominate and see if there are any takers, the drag along/tag along provisions are often a real hassle.
bacci
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Shareholders Rights in a Private Company, page-2
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Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
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