Old topic, new question 
I am building a 850 engine, I will install a chain tensioner. I have two ideas for that extra hole :
1) Cut an 1/4" UNF thread into the plate and fit a short screw there. It is the same as on the upper quarter of the timing cover/plate.
2) Drill a 5/16" (8 mm) hole for a nut-and-bolt fixing. In this case I have to grind some material from the block. I also have a 998cc Mini, where someone made this in the past.
When I do the conversion on older engines, I drill them through at 8 mm, then countersink the hole from the back side and fit a countersunk screw in from the back. Works well and I find with countersunk screws, they will self lock, so you don't need to get in there with a tool, only a socket from the front on the nut.
If you do go this way and use a UNF bolt, just be aware, the countersink angle on most of these is 800, not the more common 90.