If I was to choose, I'd be more inclined to buy the newer WGF...

If I was to choose, I'd be more inclined to buy the newer WGF which is at a discount to NTA, especially given they're saying the international side has been the strongest for ALF. But that does have the extra complication of possible options dilution over coming years, which is difficult to price. So, errr ... OK that's not very helpful It probably is a good entry point if you think they can turn things around, but by @marketmaker's analysis they've got their work cut out for them even to sustain the dividend.