That is an adjusting screw to hold the plate..ordinarily you would loosen the screw then adjust the base timing with a timing light by moving the plate back or forth.
Yours obviously shifted when the screw popped out..look closely at the plate and see if you can spot the wear rings left by the screw when it was seated. Move the plate to that position and tighten then retry..
If this doesn't fix then the A/C generator or spark advance mechanism may have gotten damaged by the screw tumbling around..you'll need to find replacements.
Your timing chain won't have jumped because of this, unless your engine was fuked in the 1st place.
Current toys..
1986 Honda 350X..trail bomb!
1985 Honda 250SX..my main mudder
1985 Honda 250ES..Back in Black Trike
Current non-trike toys:
1990 Honda TRX300FW
1995 Seadoo GTX
1998 Polaris Indy Lite 340(Nearly new looking)
1998 Polaris Touring 500
1998 Club Car (electric)