I don't really understand why this share would be labelled as a...

I don't really understand why this share would be labelled as a spec. All the investors invloved in the float have tended to grow their wealth my investing in profitable enterprises.
The company will adopt a broader investment strategy targeting absolute returns over the medium to long term. The funds may well be spread over 5 or so different investments. It will focus on small to mid caps and have an active approach to these investments. It will be a diversified portfolio. I haven't read anything so far that suggests they will persue a speculative investment strategy.
Yes often stocks trading under 10 cents are speculative, but whether a stock is speculative does not depend on a share price. As we will see soon with this, any company with a share under 10 cents can simply change that by way of a share consolidation to whatever they want.