Found this link that reaffirmed what I thought.
http://www.fmaccountants.ie/transfer-of-shares-in-a-private-company/What is a Share?A share can be described as an intangible accumulation of rights, interests and obligations. The reason companies issue shares is to allow the company raise funds to carry out its activities and make a return for its members. It also allows the ownership to change in a company.
Different share classes may have different rights so it is very important to review the articles of association to understand the rights attached to the shares.
Ordinary shares usually (but never assume!!) have the following rights:
A right to attend and vote at general meetings
A right to a proportion of the profits of a company – dividend
A right to the capital surplus on winding up
A right to notice & information from Company
What I understand that to mean is that Directors can only block the transfer of shares if it is deemed to be in the best interest of the company, ie: a hostile takeover.
Shareholders at an EGM or AGM should have the ability to vote in/out directors and introduce a resolution to be voted upon by shareholders at the AGM/EGM.
So to clarify the above you should seek to see Whistles Memorandum and Articles of Association or its Constitution, as it is called now for new companies.
Might pop out to the meeting meself next week.