Minnie Mouse holds 1% of the shares in Universal Pty Ltd. There are four other shareholders, each of whom is also a director. Minnie suspects that the directors may have been personally profiting at the expense of the company. At a recent general meeting, a resolution was passed resolving that Universal Pty Ltd had no interest in a transaction, which the directors had personally undertaken and profited from. When Minnie complained to the directors, they threatened to convene a general meeting to create a constitution giving them the power to compel her to sell her shares to them.

NOTE: You are required to use the 4-steps process in answering this question. The marks allocated for the steps are as follows:

Steps 1 and 2: 8 Marks.

Steps 3 and 4: 7 Marks.

[15 Marks]