Holding(s) in Company

Macfarlane Group PLC
19 March 2007


                                                                    

TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES


(1). Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

MACFARLANE GROUP PLC


2. Reason for the notification (please state Yes/No): (   )

An acquisition or disposal of voting rights:                               (   )

An acquisition or disposal of financial instruments which may result 
in the acquisition of shares already issued to which voting rights are 
attached:                                                                  (   )

An event changing the breakdown of voting rights:                          (   )

Other (please specify) :     INITIAL DISCLOSURE                            ( X )


 
3. Full name of person(s) subject to the notification obligation:

OSPREY SMALLER COMPANIES INCOME FUND LIMITED 

4. Full name of shareholder(s) (if different from 3.):


 

5. Date of the transaction and date on which the threshold is crossed or reached
if different):

16/03/2007
 

6. Date on which issuer notified:

16/03/2007
 

7. Threshold(s) that is/are crossed or reached:

3%
 

8. Notified details:


 


A: Voting rights attached to shares

 
Class/type of shares            Situation previous to  
if possible using the           the Triggering         
ISIN CODE                       transaction        
                       Number of shares       Number of voting Rights 

ORDINARY 25P           4,269,082              4,269,082               
SHARES

GB0005518872 
 

                     Resulting situation after the triggering transaction 
 
Class/type of shares Number of shares  Number of voting rights    % of voting rights  
if possible using                                                                 
the ISIN CODE                                                                         
                     Direct            Direct     Indirect        Direct    Indirect  


ORDINARY 25P         4,269,082         4,269,082                  3.71%  
SHARES

GB0005518872 
 

B: Financial Instruments

Resulting situation after the triggering transaction 

Type of     Expiration Date  Exercise/Conversion Number of voting     % of voting     
financial                    Period/ Date        rights that may be   rights          
instrument                                       acquired if the                      
                                                 instrument is                        
                                                 exercised/                           
                                                 converted.                           



Total (A+B)
Number of voting rights       % of voting rights 

4,269,082                      3.71%

 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:


 


Proxy Voting:

 
10. Name of the proxy holder:


 

11. Number of voting rights proxy holder will cease to hold:


 

12. Date on which proxy holder will cease to hold voting rights:


 

13. Additional information:


THE SHARES ARE REGISTERED IN THE NAME OF FOREST NOMINEES LIMITED

 

14. Contact name:


 

15. Contact telephone number:




 
Annex Notification Of Major Interests In Shares 
 

A: Identity of the person or legal entity subject to the notification obligation
 

Full name (including legal form for legal entities):

OSPREY SMALLER COMPANIES INCOME FUND LIMITED

 

Contact address (registered office for legal entities):

PO BOX 650, 2ND FLOOR, NO 1 LE TRUCHOT, ST PETER PORT, GUERNSEY, GY1 3JX 


Phone number:

01481 731987 


Other useful information (at least legal representative for legal persons):

 

B: Identity of the notifier, if applicable

 

Full name:

KEVIN ROBINS
 

Contact address:

PO BOX 650, 2ND FLOOR, NO 1 LE TRUCHOT, ST PETER PORT, GUERNSEY, GY1 3JX 
 

Phone number:

01481 731907
 

Other useful information (e.g. functional relationship with the person or legal
entity subject to the notification obligation):

 

C: Additional information :

THIS IS THE INITIAL DISCLOSURE MADE BY OSPREY SMALLER COMPANIES INCOME FUND
LIMITED BASED ON HOLDINGS IN ACCORDANCE WITH DTR 5.1.   ON AN ONGOING BASIS,
ADDITIONAL DISCLOSURES WILL BE MADE WHEN A NOTIFIABLE THRESHOLD IS CROSSED.
 




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