TT$16 by a specified price as follows: â¢ If the average trading price of RBC common shares on the NYSE for the five consecutive trading days ending on the second trading day prior to the closing of the transaction is between US$48.98 and US$59.86, then the specified price for determining the exchange ratio will be that average RBC trading price.
The major differences between democracy and republic are provided in the points given below: 1  Democracy is defined as a political system which is made by/of/for the people. The republic is the representative democracy with the chief of the state known as president. In a democracy, the rule of majority people prevails whereas in the case of the republic the rule of law prevails.
A republic is a country which is not run by an hereditary head of state. That is, it is not run by a king or any other sort of monarch who inherited the job from his or her father or mother. Each new ruler is chosen.A republic does not have to be democratic, it can be an oligarchy (rule by a minority), or a dictatorship (rule by one person). Most republics claim to be democratic. Republic is a form of government.This is people with power.ach new ruler is chosen. A republic does not have to be democratic, it can be an oligarchy (rule by a minority), or a dictatorship (rule by one person). Most republics claim to be democratic. Republic is a form of government.