Phrasal Usage - 1

Directions: Which of the phrases, 1, 2, 3, and 4 given below should replace the phrase given in bold in the following sentence, to make this sentence grammatically meaningful and correct? If the sentence is correct as it is and no correction is required, mark 5 as the answer.
The high profile event was to take place in the Town Hall, yet it got cancelled because of the artist's ill health.