A general meeting of the company can, by way of a simple majority vote, resolve to reallocate the shares of its members, but you will need some basis for that reallocation, and that’s a valuation of almost the same scope as will be needed for the proposed conversion to Strata Title.
So perhaps initiate discussions between company representatives and some Registered Valuers with Strata experience, with the objective of selecting one to in the first instance undertake a valuation of all existing Lots in order to substantiate a reallocation of shares now, and secondly to form the basis of a later determination of the units-of-entitlement of those Lots if the conversion to Strata Title is later approved.