KLE 500 No Spark
 

Hi guys, hope someone can help. I picked up a non running Kawasaki KLE500 (1996) the Starter clutch was slipping so I replaced that. Now turns over but now No Spark.!
I noticed when removing the flywheel and stator coil, it only has two magnets inside the flywheel and these were in a poor condition. Is this normal as all others I have seen have magnets all the way around the inside of the flywheel. Also would a misalignment of the flywheel generate no current.? Thanks Tom