David Liddy, managing director of Bank of Queensland, sold around 45 per cent of his shares in the bank on June 30 to repay a loan to RBS. The bank disclosed the share sale to the ASX yesterday. Liddy sold 750,000 shares worth around $9.7 million to eliminate his liability under a put and call option set up with RBS a year ago. Shares in BOQ were trading around $13.50 when Liddy took out the loan. RBS granted Liddy a put and call option with a floor price of $12.882, the bank said. Shares in BOQ ended yesterday at $8.91. Liddy still controls around 900,000 shares in BOQ, equal to close to one per cent of the bank's issued capital.