UPDATE 1-Dissidents gain two seats on Amylin board

* Icahn, Eastbourne candidates gain two seats on board

* Amylin holds 10 of 12 seats

NEW YORK, June 2 (Reuters) - Amylin Pharmaceuticals Inc (AMLN.O) said on Tuesday that two candidates put up by dissident shareholders have been elected to its board of directors, according to a preliminary tabulation of shareholder votes by its independent inspector of elections.

Joseph Cook, Amylin's chairman, and James Wilson, Amylin's lead independent director, were not reelected, the company said.

Amylin said last week following its annual shareholder meeting that it believed 10 of its nominees had been elected to the 12-member board, with two seats going to candidates put up by dissident shareholders Eastbourne Capital Management and Carl Icahn.

The completed preliminary tabulation indicates that shareholders voted to reelect eight of the company's current directors to Amylin's board as well as the company's two new independent nominees, Paul Clark and Paulo Costa, Amylin said.

Icahn lieutenant Alexander Denner and Eastbourne candidate Kathleen Behrens were also elected to the board, Amylin said.

Eastbourne and Icahn had mounted a fierce proxy battle seeking representation on the 12-member board, with Eastbourne nominating three candidates and Icahn seeking two.

Eastbourne and Icahn have been highly critical of Amylin management, accusing them of mishandling its flagship diabetes medicine Byetta, which the company co-markets with Eli Lilly and Co (LLY.N).

Icahn and Eastbourne had originally nominated separate minority slates of five candidates each. They were eventually allowed to put forth a combined slate of five nominees so as not to accidentally trigger a so-called poison put that would go into effect if there were a change of control of the board had the dissidents gained more than six seats.

The poison put would require the company to accelerate debt repayments to its potential detriment.

Voting results on director elections will be finalized once it is certified by the inspector following a customary review and challenge period, Amylin said. (Reporting by Bill Berkrot, editing by Gerald E. McCormick)