Exhibit (l)
PURCHASE AGREEMENT
Purchase Agreement dated October 12, 2010 between iShares MSCI Russia Capped
Index Fund, Inc., a corporation incorporated under the laws of the State of
Maryland (the "Company"), and BlackRock Fund Advisors (the "Sole Initial
Shareholder"), a corporation organized under the laws of the State of
California.
RECITALS:
WHEREAS, the Company is an investment company registered under the
Investment Company Act of 1940 (the "1940 Act");
WHEREAS, the Company proposes to issue and sell shares of its common stock
(each a "Share," and more than one Share, "Shares"), par value $.001 per Share,
to the public pursuant to a Registration Statement on Form N-1A (the
"Registration Statement") filed with the Securities and Exchange Commission;
WHEREAS, the Shares have not been registered for public offering under the
Securities Act of 1933, as amended; and
WHEREAS, Section 14(a) of the 1940 Act requires a registered investment
company to have a net worth of at least $100,000 before making a public
offering of its securities;
NOW THEREFORE, the Company and the Sole Initial Shareholder agree as follows:
1. The Company offers to sell to the Sole Initial Shareholder, and the
Sole Initial Shareholder agrees to purchase from the Company, such
amount of Shares to be specified by the Company for an aggregate
price of not less than $100,000 on a date to be specified by the
Company, prior to the effective date of the Registration Statement.
2. The Sole Initial Shareholder represents and warrants to the Company
that the Sole Initial Shareholder is acquiring the Shares for
investment purposes only and for the Sole Initial Shareholder's own
account, and not with a view to or in connection with any resale or
distribution of any or all of the Shares or of any interest therein
or with the current intention to redeem the Shares.
3. The Sole Initial Shareholder's right under this Purchase Agreement to
purchase the Shares is not assignable.
The Company and the Sole Initial Shareholder have caused their duly
authorized officers to execute this Purchase Agreement as of the date first
above written.
iShares MSCI Russia Capped Index
Fund, Inc.
By: /s/ Xxxx Xxx
--------------------------
Name: Xxxx Xxx
Title: Treasurer and Chief
Financial Officer
BlackRock Fund Advisors
By: /s/ Xxxxxxxx X. Xxxxx
--------------------------
Name: Xxxxxxxx X. Xxxxx
Title: Managing Director
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Managing Director
AGGREGATE PURCHASE
Number of
Name of Shareholder Name of Fund Shares Amount
------------------- ------------------------ --------- --------
BlackRock Fund Advisors iShares MSCI Russia 4,000 $100,000
Capped Index Fund, Inc.
