Interestingly, QHL lacks liquidity, so anyone building a stake,...

Interestingly, QHL lacks liquidity, so anyone building a stake, for whatever reason, can’t really exit “on market” in the normal course of share trade.

The only exit possible therefore, would seem to be a “trade sale” to a large acquirer, or make takeover themselves. In both cases, they obviously see current prices being paid are reasonable.

On this basis alone, I see little downside on QHL.