It gets interesting when you look at the shareholders of each of QUE, OEQ, BEL, SRK and LEL. This is rough however what I can find looking through the Annual Reports is that Farooq and associates own ~51% of QUE.
QUE / Farooq companies / associates own ~59% of OEQ, then 44% BEL, 28% SRK & 30% LEL.
3 of those companies (SRK, OEQ, BEL) are currently in suspension.
If some one rocked up and offered 2-3x market cap <$3.0 mil to QUE directors they would end up with a fair bit of ownership or control of the rest.
Ann: Voluntary Suspension, page-22
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