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.
Parliamentary democracy is the type of government where the public vote government into power and parliamentarians are representative of the people. While a Presidential Democracy is when there is a system of government that has a president acting as the nationâs head of state and active chief executive authority. The similarities between the Presidential and Parliamentary model are: both are representative democracies, both have a head of state, both have a bicameral form of government and both are rule by constitution. There are also differences between the Presidential and Parliamentary model.