re⋅dact  /rɪˈdækt/ [ri-dakt]

–verb (used with object)
1. to put into suitable literary form; revise; edit.
2. to draw up or frame (a statement, proclamation, etc.).


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Origin:
1350–1400; ME < L red&#257;ctus (ptp. of redigere to lead back), equiv. to red- red- + &#257;ctus, ptp. of agere to lead; see act

Related forms:

re&#8901;dac&#8901;tion, noun
re&#8901;dac&#8901;tion&#8901;al, adjective
re&#8901;dac&#8901;tor, noun
Dictionary.com

Retracted darned near fits, olly, in your example.