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Tuesday 25 May, 2010

Aberforth Partners

Form 8.3 - Morse plc

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A
PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")

1.   KEY INFORMATION

(a) Identity of the person whose positions/dealings are being            Aberforth Partners LLP, on      disclosed:
                                                         behalf of discretionary clients.

(b) Owner or controller of interests and short positions disclosed, if
different from 1(a):
  The naming of nominee or vehicle companies is insufficient

(c) Name of offeror/offeree in relation to whose relevant securities     Morse plc
this form relates:
  Use a separate form for each offeror/offeree

(d) If an exempt fund manager connected with an offeror/offeree, state
this and specify identity of offeror/offeree:

(e) Date position held/dealing undertaken:                               24 May 2010

(f) Has the discloser previously disclosed, or are they today            NO
disclosing, under the Code in respect of any other party to this
offer?


2.   POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)  Interests and short positions in the relevant securities of the offeror or
     offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:                    Ordinary

                                               Interests                         Short positions
                                               Number       %                    Number         %
(1) Relevant securities owned and/or           3,946,518    3.04                 0              0.0
controlled:
(2) Derivatives (other than options):
(3) Options and agreements to purchase/sell:
  TOTAL:                                       3,946,518    3.04                 0              0.0

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or
sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)  Rights to subscribe for new securities (including directors' and other
     executive options)

Class of relevant security in relation to which          N/A
subscription right exists:
Details, including nature of the rights concerned and    N/A
relevant percentages:

If there are positions or rights to subscribe to disclose in more than one class
of relevant securities of the offeror or offeree named in 1(c), copy table 2(a)
or (b) (as appropriate) for each additional class of relevant security.

3.   DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)  Purchases and sales

 Class of relevant security    Purchase/sale     Number of securities       Price per unit

 Ordinary Shares               Sale              11,000,000                 50.25p

(b)  Derivatives transactions (other than options)

 Class of relevant      Product         Nature of dealing                    Number of    Price per unit
 security               description     e.g. opening/closing a long/short    reference
                        e.g. CFD        position, increasing/reducing a      securities
                                        long/short position
 N/A


(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

 Class of     Product       Writing,     Number of      Exercise      Type      Expiry      Option money
 relevant     description   purchasing,  securities to  price per     e.g.      date        paid/
 security     e.g. call     selling,     which option   unit          American,             received
              option        varying etc. relates                      etc                   per unit

 N/A

(ii) Exercising

 Class of relevant     Product description      Number of securities       Exercise Price per unit
 Security              e.g. call option

 N/A


(d)  Other dealings (including subscribing for new securities)

 Class of relevant     Nature of dealing                 Details              Price per unit
 security              e.g. subscription, conversion                          (if applicable)
 N/A


The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of
the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as
appropriate) for each additional class of relevant security dealt in.

4.   OTHER INFORMATION

(a)  Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to
relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the
disclosure and any party to the offer or any person acting in concert with a party to the offer:
If there are no such agreements, arrangements or understandings, state "none"

None


(b)  Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and
any other person relating to:
(i)the voting rights of any relevant securities under any option; or
(ii)the voting rights or future acquisition or disposal of any relevant securities to which any derivative is
referenced:
If there are no such agreements, arrangements or understandings, state "none"

None


(c)  Attachments

Is a Supplemental Form 8 (Open Positions) attached?        NO


Date of disclosure:                                        25 May 2010
Contact name:                                              David Holland, for Aberforth Partners LLP
Telephone number:                                          0131 220 0733



Public disclosures under Rule 8 of the Code must be made to a Regulatory
Information Service and must also be emailed to the Takeover Panel at
[email protected]  The Panel's Market Surveillance Unit is available
for consultation in relation to the Code's dealing disclosure requirements on
+44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.                                                                                                                                                 

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