The note was issued by Kings Bay. Kings Bay AS was established in 1916 under the name Kings Bay Kull Compani A/S (KBKC) by a group of businessmen from Ålesund seeking to exploit the coalfields near Ny-Ålesund in Svalbard. The Norwegian government assumed control of the company in 1933. Mining operations ceased in 1963. Nominal value: 25 øre, a common denomination The note has been signed by Arne Brøgger and Einar Slåtto. Brøgger never served as a company secretary in Svalbard but as a manager and commercial director. The signature is unclear, almost illegible - with an indecipherable squiggle. Einar Slåtto was chairman of Kings Bay 1947-55.

The note has two faults: The note has coffee stains on it. & There are visible fingerprints on the note.