How to convert the mouse coordinates into a line and character offset in a TRichEdit

Problem/Question/Abstract:

I am currently trapping the OnMouseMove event, however have run into significant problems converting the mouse coordinates into a line and character offset in a rich edit.

Answer:

procedure TForm1.RichEdit1MouseMove(Sender: TObject; Shift: TShiftState; X, Y:
  Integer);
var
  Point: TPoint;
  Value: LongInt;
  LineNumber: Integer;
  LinePos: Integer;
  Line: string;
begin
  {Get absolute position of character beneath mouse}
  Point.x := X;
  Point.y := Y;
  Value := RichEdit1.Perform(EM_CHARFROMPOS, 0, LParam(@Point));
  if Value >= 0 then
  begin
    {Get line number}
    LineNumber := RichEdit1.Perform(EM_LINEFROMCHAR, Value, 0);
    {Get line position}
    LinePos := Value - RichEdit1.Perform(EM_LINEINDEX, LineNumber, 0);
    {Get line}
    Line := RichEdit1.Lines[LineNumber];
    Label1.Caption := Format('Line: %d Column: %d: %s', [LineNumber, LinePos, Line]);
  end
  else
  begin
    Label1.Caption := EmptyStr;
  end;
end;

This only works for RichEdits.