TNotifyEvent : Will this get me there?

I am designing an interface where a TLabel (and other objects) can be arranged,
sized, aligned, etc. on a TPanel object.

I need a way to create and update a global variable that would contain the
object information for the object that gets focus.

In other words, if you the user selects Label#1, I need to know that.

If I create a decendant class from TLabel, and incorporate a TNotifyEvent into
that class. Will that work?

And if so, in terms of an outline, .. How do you do it?