Thanks Sunburntland.
My understanding is that a Shareholder vote is required as it is a Deal involving the Companies Main Assets - Thus we get to vote pursuant to a "Explanatory Memorandum".
This Memorandum should state that approval is sought for a defined deal structure.
The Directors will then be compelled to distribute us shares otherwise they would need a new approval.
Thus you point is valid but the risk is greatly minimised
