The Ghanaian league leaders are expected to part company with coach Tanko on Tuesday morning.
The decision has sparked the rumour mill with reports linking the former Hearts trainer to the soon-to-be declared vacant position.
But Executive vice-chairman Albert Commey has moved to quell the rumours insisting the reports are wide off the mark.
“This is news to me. If you saw him in Tarkwa then he probably came on a personal visit. It has nothing to do with Medeama,” Commey said
“We’ve not had any discussions with him and so the report must be treated as mere conjecture.
“There is no truth or substance in the said report. We have not discussed anything with CK.”
Medeama will soon begin the hunt for a new coach following the decision to relieve Tanko Shaibu off his duties.