It was likely made No Drop to prevent farming of the elusive gnoll Gnasher Furgoot.
As I have this item and having done the quest to get it, it can be seen as an honor bestowed by the Captain in Qeynos and as such should not be transferable.
Charisma items are also beneficial to classes that use charm spells like us druids on animals.
+5 CHA is a welcome addition how ever it comes.
Phrodoe Drogoson
Halfling Druid of 35 Seasons
Tunare