This is a Pamco ignition built on a stock CB650 plate. If you look under the screw at 12 o'clock, you can see a tiny pointer. That's what you use to set the timing marks.
Notice how the window is at the top of the plate?
By the way, since this is a custom ignition, it appears that mine is advanced. That's the way we had to do it to get the Pamco transistors to line up with the stock threaded holes on the plate.
For your bike, set it up like this but put the screw in the center of the cut out. That should get you close enough to start the bike, then set the timing.