Nope not at all - read through Listing Rule 3.1 (which is the ONLY listing rule PwC signed off on so far).
If GSW had actual earnings forecasts in investor presentations etc. like normal companies then yes. However, those were mere contractual announcements with an estimate of the potential revenue generation, nothing more, which is completely fine and legal and therefore got PwC sign-off.
However, this does not mean that these foreward estimates are reasonable. I mean, look at prospectuses, which do require accountant sign-offs (independent expert reports). Most of these bullish estimates turn to shit.
Investors need to learn NEVER to rely on the work of others (PwC, Fidelity, Regal). Dangerous to say - hey Fidelity bought shares so they must've done their research.
GSW Price at posting:
51.0¢ Sentiment: None Disclosure: Not Held
