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 democracy is a government run by the people. Each citizen has a say (or vote) in how the government is run. This is different from a monarchy or dictatorship where one person (the king or dictator) has all the power. There are two main types of democracies: direct and representative. Direct - A direct democracy is one in which every citizen votes on all important decisions. One of the first direct democracies was in Athens, Greece. All of the citizens would gather to vote in the main square on major issues.