	avalon avl stake sold by deltec avalon corp said that deltec panamerica sa has arranged to sell its pct stake in avalon and that deltec s three representatives on avalon s board had resigned an avalon spokeswoman declined to indentify the buyer of deltec s stake or give terms of the sale in addition avalon said three other directors resigned it said benjamin w macdonald a director of tmoc resources ltd the principal holder of avalon stock and hardwick simmons a vice chairman of shearson lehman bros inc were then named to the board reuter 
