The Rangers boss refused to be drawn on the prospect of King's potential return to the club when he addressed the media last week and said he would only talk about on-field matters.
McCoist has taken his side 24 points clear at the top League One, with Lee McCulloch's late penalty enough to see off East Fife on Saturday.
The Gers look set to clinch their second successive title before the end of the month, but the Light Blue agenda continues to be dominated by boardroom bickering as King plots what would be a sensational comeback.
The South Africa-based businessman has hit out at the current Ibrox hierarchy in recent days but insists he hasn't held talks with McCoist.
He said: "I believe that it is the manager's job to focus on team affairs and to stay away from the corporate activities that he has no influence over.
"I have not had discussions with Ally on my recent statements and I don't believe that it would be appropriate for me to do so.
"Ally has always demonstrated his loyalty to the club and will, no doubt, continue to put the club ahead of any individual."
King has set the wheels in motion for revolution at Rangers as he looks to force through change at the highest level of the club with the backing of supporters.
His move has come in the aftermath of a deal being struck that saw Laxey Partners and Sandy Easdale loan a combined £1.5million to the Glasgow giants last week as fan fury towards the board has once again risen.
After more speculation regarding their finances, Rangers moved to play down fears they could be heading for a second administration on Sunday night and King doesn't expect another insolvency event in just two years at Ibrox.
He said: "I don't believe that it is likely that the club will go into administration at the present time."